Monday, October 18, 2010

Bookkeeping: Short Prudential Financial (PRU) Again

I know it has reached a laughable state to attempt to short anything but I am going to keep taking targeted attempts, even as I am invariably stopped out within days.   I shorted Prudential 2 weeks ago another a whole series of moving averages.  Last Wednesday I was 'head faked' by the computers as they jerked PRU over the 200 day moving average before letting it fall right back down.  My stop loss was triggered and a small loss locked in.

I will try again, now using not the 200 day but last week's highs as the bogey; this will give me a 2.2% max loss barring a gap up type of situation.  This will be a 2.5% exposure; if I am not stopped out within 48 hours I now consider that a successful short.  The company reports the first week of November, so if somehow I still am in the short at that point, I'll be covering ahead of earnings.

Short Prudential Financial in fund; no personal position


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