FII swing short continues to behave. Note how it is underperforming the spx.
11:36 mon 11/9
FII continues to exhibit more weakness than spx, and the swing short signal is strengthening.
10:06, Monday 11/9
entered starter position in FII short at 26.67. Stop set at 28.31 for now, will lower later.
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I am watching FII for a possible short entry. At this point, I'm watching only. It's not quite ready to short yet, for me. FII is close to satisfying the criteria for my proprietary swing short trade. I'll be monitoring it.
Among other things, FII has been underperforming the SPX for the past 3 days. Thus, if the SPX goes up, then FII should go up a smaller percentage. If SPX does down, FII should tumble faster to its target. Part of this strategy is to short a stock that's weaker than the SPX. The inverse would be to go long a stock that's stronger than SPX, but I expect the SPX to pull back somewhat, regardless of whether it is going to higher highs or not.
FII -
MAYBE I WILL Short 26.70. Target 24.24 or 10%. Stop 27.31.
Next earnings report is Jan. 18, 2010.
Watch for support at 26.04.
Vol. 1.1M
The triangle measures to the same as the fib and the same as prior significant low.
Array: 24.83, 25.06, 26.18, 26.60, 26.62 , 27.11, 27.64,
* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".
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