Patience Could Pay Off for Arrow Bears

Anything around, say, $40.90 or so would be a low-risk short entry because of the proximity of the buy-stop. Put the buy-stop up at $42.10, just above the June high. If the stock moves that high, you don't want to be short.

My downside target for this stock is $35.

Updates on Open Positions

• Assisted Living Concepts (ALC Quote): The stock offered the short entry at $11.60 on June 1, with a buy-stop at $12. The stop can be lowered just a bit, to $11.90. Shares closed at $11.26 Wednesday.
• Lam Research (LRCX Quote): The short entry of $53.80 was hit on May 31. The original buy-stop was $56.05, but that stop should be lowered now to $55.05. The stock closed at $52.59 Wednesday.
• Mattel (MAT Quote): The May 31 market open offered a short entry of $27.75. The stock is trending lower, with the stop set at $28.70. That stop remains unchanged. Mattel shares closed at $27.35 Wednesday.

< Previous

1 2

Next >