Wednesday, January 2, 2008
DLM's a Short
DLM broke significant support at 9.50/10 dollars in late 2007. If you look at a five year chart its clearly shown. Unfortunately, I do not have one available for this post. After a quick drop it has now snapbacked towards that previous support level. It now looks to have tired itself out and the stock has become an attractive short. Just above here, DLM faces not only the support level it broke (which is now resitance) but also tough resistance at the 50 sma (9.57). The stock topped out today at 9.50, right near this level. I would start shorting here, even though the stock has backed a bit away from that level. Stop out above the 50 sma.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment