Thursday, July 15, 2010

I am once again short the market...

I shorted 120 shares of ATHR and 700 shares of GT this morning @ $30.00 and $11.45 respectively. Although the GT position size may seem quite large, my stop loss is very tight and rests at $11.60 while my stop loss for ATHR is a little looser at $31.00. So although I am 200% short overall I am risking less than 4% of my account on these two trades but stand to profit 12% - 15% if these stocks revisit their recent lows. With the markets as overbought as they are now and signs of short term weakness beginning to show I like these bets very much.

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