Wednesday, April 9, 2014

New Positions -- Short P, KNDI

Based on my belief that the market is in the midst of short term relief rally, my plan was to initiate some short positions as the market bounces.  I took two additional positions.

Pandora $P, Short 28.87  --- Heavy down that appears to sill have some momentum, a bounce on support at 26 followed by two bullish days rallied to the 9 ema which has tracked the down move pretty well.  Initial Target 26.  Stop at 31,  risking about 1%

KNDI  Short 14.04-- Showed very poor relative strength .04 and the MACD is picking up downside momentum.  Stop 15.90 --high from three days ago.  Risk 1.25% 

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