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I shorted JBL at $17.05

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September 19, 2011 – Comments (0) | RELATED TICKERS: JBL

(yeah yeah - I got in a little early - I know that - but I'm not afraid to admit it!) 

Only one new additional short position to the portfolio this morning. I jumped in JBL at $17.05 - which is after down already after pretty strong decline already this morning, but I'm willing to accept that, with the belief that semi's are going to see a lot more weakness in the day's ahead, as nearly every semiconductor stock has run into some heavy resistance on their individual charts. JBL, for instance, has run into the underside of the channel that it was previous trading in, and has created enough resistance over the last three days in particular to create a sell-off today. 

Here's the trade setup in JBL

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