Friday, October 14, 2005

Oh, Baby!

I could go on and on about the breakdown in the market this week (oh, Tim, please.....) but I won't. This Friday - like last Friday - our dear friends the bulls bid the market up in a one-day rally. Sorry, guys, it's too late. The giant ascending trendlines have been broken, and you were only able to push prices up to the underbelly of your former support. Game over, man. The bears are ready to party.

So while we look forward to next week, let me offer up just a single stock - a short, naturally. This one is baby clothes maker Carter's. A stellar head & shoulders pattern that holds the potential for a terrific drop, as indicated by the chart below.

Oh, and hey - it's optional! (Try .CRIWK) Good luck!

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