Smart Stock Selections Trading Recommendation: Sell Short MON
http://www.setthestageforsuccess.com/articles/14528/1/Smart-Stock-Selections-Trading-Recommendation-Sell-Short-MON/Page1.html
Steven M. Goffner, MBA
Steven M. Goffner, MBA has been an Accounting, Finance, and Business Management Professor since 1982. He is a former Finance Coordinator for The New York Stock Exchange and educates the public about common-sense methods for investing in stocks. His articles appear weekly on http://WallSt.net for premium subscribers.
By Steven M. Goffner, MBA
Published on 08/4/2008
Since Monsanto hit a 52 week high of 145.80 on June 18th, the stock has
been on a downward spiral. Technically, MON has now triggered and
confirmed a new short signal with its recent higher move to close to
$124 per share on Wednesday followed by continued pressure on Thursday
and Friday. I am recommending that you now short this stock at the
market in anticipation of the next move downward. It is this same
methodology that we recently applied to our short of MA at $263
recently that we see happening to MON this week. This is a medium risk
play and I urge you upon entry to put your stop loss order to buy at
10% above your entry price.
Since Monsanto hit a 52 week high of 145.80 on June 18th, the stock has been on a downward spiral. Technically, MON has now triggered and confirmed a new short signal with its recent higher move to close to $124 per share on Wednesday followed by continued pressure on Thursday and Friday. I am recommending that you now short this stock at the market in anticipation of the next move downward. It is this same methodology that we recently applied to our short of MA at $263 recently that we see happening to MON this week. This is a medium risk play and I urge you upon entry to put your stop loss order to buy at 10% above your entry price.
Last week, I recommended that you short RIMM. Unfortunately, the stock never confirmed the entry price of $115 and we were not executed. In doing my analysis of the stock this past weekend, I noticed that another short trigger came into play on Thursday after a two day rally. Therefore I am also recommending that you short RIMM this week if it can close below its 7 day moving average on any trading day.
Our WallSt.net trading portfolio continued to show excellent results last week. As momentum traders, we look to find market movers in both directions to make money regardless of the conditions in the overall market. I urge you to check out our website at www.smartstockselections.com if you are interested in learning how to apply our proprietary methodology to your portfolio. Here is an update of our current positions.
Last week, I recommended that you short RIMM. Unfortunately, the stock never confirmed the entry price of $115 and we were not executed. In doing my analysis of the stock this past weekend, I noticed that another short trigger came into play on Thursday after a two day rally. Therefore I am also recommending that you short RIMM this week if it can close below its 7 day moving average on any trading day.
Our WallSt.net trading portfolio continued to show excellent results last week. As momentum traders, we look to find market movers in both directions to make money regardless of the conditions in the overall market. I urge you to check out our website at www.smartstockselections.com if you are interested in learning how to apply our proprietary methodology to your portfolio. Here is an update of our current positions.
- GRC ... recommended at 41.31, now trading at 42.86. Raise stop order to sell to breakeven!!
- SHLD ... recommended at 71.58, now trading at 78.85. Keep stop order to sell at 75.87.
- CLHB ... recommended at 72.20, now trading at 79.65. Raise stop order to sell to 73.08!
- EDU…sold this week at 69.72 for a 9.36% short-term profit!!
- NOV ... recommended purchase of November 85 calls at 10.50, now trading at 8.50. Raise stop order to sell to 6.75.
- SU ... recommended as a short sale at 57.80, now trading at 54.22. Keep stop order to buy at 55.88.
- ARG ... recommended at 60.06, now trading at 56.74. Keep stop order to sell at 54.06.
- MA ... recommended as a short sale at 263.78, now trading at 237.27. Place stop order to buy at 247.99!
- BAC ... recommended at 32.37, now trading at 33.33. Raise stop order to sell to 27.75.