I’ve found very little to trade today. That doesn’t come as a surprise since we have not yet broken out of the overnight trading range.
For those not already short RGR, a great low risk short entry off the retest of the symmetrical triangle breakdown. I think you can enter at $12.70 with a stop at $12.85. The only real risk of loss is a gap up. I’m already short this with an entry at $12.45 earlier this week.
UPDATE: I think VMW looks like a decent short opportunity at $42.
There is a major gap from July 2008 acting as resistance and this stock also responds to fib lines very well. It is also at the top of the Bollinger Band. But, RSI is at 63 which is not a bad spot for an upward moving stock to breakout. This one is not a slam dunk short but if you’re looking for short exposure like me, I think the risk/reward profile is outstanding. I’m using the $42.50 area as my stop.
