The two largest shorts in my portfolios are BNI and ATI. They have both setup great short patterns, again, failing and reversing right at the 200 day moving averages. What makes both of these stocks better shorts than others is that they were clearly both old leaders of the rally off the 2002 lows. Second, both stocks are setting up and breaking down on heavy volume right at a key technical inflection point of the moving averages called a “death cross.” This is when the 50 day moving averages crosses down below the 200 day moving average with the stock trading below both averages. ATI and BNI should both be great shorts. Remember, don’t get crazy with these two. We are waiting to short the hell out of GOOG AAPL RIMM FWLT BIDU BCSI and the other parabolic big-cap tech/leading growth stocks.
new short position: FDX
FDX
adding to existing short positions: ATI BNI
ATI
BNI
