Monday, January 28, 2008

Short DSX

I am short a dry shipper . . .again. DSX's recent bounce offers a good short opportunity. The move seems to be stalling at resistance (200 day moving average), and stochastics are overbought and looks to be ready to cross down.

My stop is placed just above the 200 day moving average. I plan to take partial profits at the recent lows.

1 comment:

Anonymous said...

I would not be shorting shippers anymore. The sector has been hammer enough. You can get burned if there is any positive news on the sector.

How about taking a second look at Agriculture stocks - MOS, POT, CF, TNH...i believe this will be the next group to follow a major decline when the market begins to decline.

Do you agree?