Tuesday, October 5, 2010

Bookkeeping: Stopped Out of Whirlpool (WHR) Short

TweetThis
It was a good battle but eventually the forces of money printing overwhelmed the forces of rationality.  If companies that are warning about full year earnings are going to break out (which Whirlpool did last week),  there is really little a person can do on the short side.  Until the euphoria ends, it remains impossible to hold shorts for more than a few hours or a day or three.



I will take a 5% loss on the Whirlpool (WHR) short as my stop loss was just triggered over the 200 day moving average.  This might be one that peaks its head over a key resistance area based on the tidal wave of the greater market, but when the day comes we have a real drop in the broader indexes, will reverse quickly back down.

With that I've been expunged of all individual short equity positions.  I'll look for new candidates nearer to S&P 1170 but the list of choices is very narrow in terms of what has not punctured multiple resistance levels.  In the meantime, I drink Kool Aid.

No position

Disclaimer: The opinions listed on this blog are for educational purpose only. You should do your own research before making any decisions.
This blog, its affiliates, partners or authors are not responsible or liable for any misstatements and/or losses you might sustain from the content provided.

Copyright @2012 FundMyMutualFund.com