Friday, March 02, 2007
Position Updates: ATHR
My chartist tells me, a closing price below $24.5 would be very bearish for ATHR. Naturally, having a short position in the pig, I would like to see the company go bankrupt and have its CEO investigated for all sorts of illegal activity.
Nonetheless, none of my wishes are likely to occur. So, I guess my chart guy will be responsible for the fate of ATHR.
Nonetheless, none of my wishes are likely to occur. So, I guess my chart guy will be responsible for the fate of ATHR.
Comments:
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Whew!!! That was fun. I see TXN is holding up as well as BBH (biotech ETF). Put/Call ratio must be ridiculous now. Only question is if it gets downright stupid to allow for a big snapback.
Your chartest is exactly right. If you take the September low and draw the uptrend you can see it is sitting right on support. Breaking 24 would lead to a possible reversal of the longer term uptrend. Support would then be at 22 according me my minor technical skilz.
# posted by 
: 1:13 PM
: 1:13 PM
Broker, since I do follow most of your recommendations, you got some more individual equity shorts? Highflyers who shouldn't, BS stocks that need to come down, perpetual losers that will stay the course, etc. E.g., in solar stocks, which I like and have sidelined generally, I'm short TSL, FSLR, and thinking about CSIQ. The little China companies and reverse mergers who shouldn't have might be another fertile area - HMIN, MR, etc. Stuff people are afraid to stay in during a downturn. And WYNN/MPEL - noones in the mood for gambling, now ;)
Fly, I would be looking for ATHR to bounce from these levels, especially if the indexes try to bounce Monday. Volume for ATHR has been declining, and 24 will surely be support. A close beneath 24 will be bad. A close above it, and I'd expect a pause at the very least, or a bit of a bounce.
Of course the way the market is trading I think technicals are not very helpful right now.
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Of course the way the market is trading I think technicals are not very helpful right now.
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