Open Trade Updates For Thursday September 21, 2011
Wednesday I alerted IPCM short at $39 because it’s been trading in a bear channel and its most recent run fell short of the recent high, $42 last Friday signaling a weakening in the stock. I shorted 500 shares at $39 and then alerted by chat, text and email with a goal of $3 per share. After hours closed at $37.17 just off $2 per share so far. My goal is $36 to $35 Thursday or $3 to $4 per share for $1,500 to $2,00o profit. If you want to be more aggressive than me, watch for a break of $35 to signal the next leg down.
Still short XTXI as well from Tuesday’s $14.55 alert. I have 1,000 shares and would like $1 or more per share if it cracks soon. Right now I’m up about $300 with XTXI down to $14.24. A break of $14.20 should bring us down to $13.80 at which point the bearish downtrend will have started.
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