Couple of New Short Ideas
The market is soaring this morning (Dow's up over 100 points). In the face of this, I offer a couple of relatively low-risk short ideas (note to the bulls out there: how about you offer some specific stock recommendations, including stop-loss prices, since you seem convinced of your stock-picking acumen?)
First is Avalon Bay (AVB), which is in the overheated REIT market. This is a hyperbolic stock which has a stop-loss price of 110.65.
The second is Health Net (HNT), which I'd give a stop-loss of 51.03. It broke a major ascending trendline and has retraced to an important Fibonacci level. Again, this is a low-risk, high-reward trade since the stop-loss is so close.
3 comments:
I don't usually pick stocks publicly - but just for you = I pick AVB - with a stop of 106.50 and a take profit target of 110.50. No more than 4 days or noon Friday.
And the internals have collapsed on this soaring market as has RUT. I don't think it's going very far.
Forgot - AVB is currently at 107.30. This is where I make the pick.
Stopped out at 3:30. What a ride - this market is incredible - Good pick Tim.
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