Today’s Trade Entries

As noted this morning, I went short coal, natural gas and steel stocks this morning. Here are the trades:

Short 200 shares of ACI at $65.24 (closed at $62.23).

Short 100 shares of APA at $123.37 (closed at 116.96).

Short 100 shares of X at $163.56 (158.17)

Short 200 shares of ZEUS at $59.67 (closed at $56.96)

My strategy was to short on today’s strength stocks within these sectors that had broke down below the 50 day moving averages. I stayed away from stocks still above the 50 day MA. That’s why, in the coal sector, I picked ACI over ANR. ANR is still above teh 50 day MA.

As you can probably guess, stops are placed above the 50 day moving average. Take a look at the charts below and you will notice similar patterns in all of the shorted stocks.

Yes, I am still holding on to SSO. To the commenter who thinks I should have been stopped out—-my stop has not been hit. I don’t like to give away my exact stop for fear of too many placing it in the exact same place I did.

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