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Shorted DDS At $21.57

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August 26, 2010 – Comments (0) | RELATED TICKERS: DDS

I went against my trading-plan this morning, of not re-entering any additional short swing-trades today. I ended up selling my shares in EUO, much sooner than where I originally put my stop-loss at (22.78 vs. SL of 22.25). It broke the 50-day moving average, which I didn't like at all, so I bailed for a small loss. In its place, I added a stock that I have been watching for a few days now - Dillards (DDS). Nice downward trend in place marked by lower-highs and lower-lows. Got in just below some major resistance overhead as noted in the chart I marked up. This stock could easily see a dip below $17 if my thesis plays out. But, as always, adhere to a stop-loss of your choosing - I've provided you with mine.

My Chart Analysis of Dillards (DDS)

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