Thursday, April 16, 2009

Charts for Thursday

Here are some charts of positions I am currently holding:

- ISRG announced earnings today, gapped higher at the open, fell into negative territory, and is now trying to rally. I am currently holding a long position, which I will continu to hold if it closes well.




- ESV: Long position. Will look to add on a break above today's high with good volume.



- RACK: Started a long position today.



- WX: Long.



- RTH: I have been holding this one short for a couple of weeks already.



- DB: The financials may want to rally more, but I will give this short position room to move around.



- EAT: This is another short position I am holding patiently. I do not think this rally is sustainable.



- MS: No position yet. I am looking to short on a break below 22.00, accompanied by broader weakness in the financial sector. I think the entire sector will trade at significantly lower prices in the intermediate term, but will avoid jumping the gun on a short trade.

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