Monday, October 5, 2009

My shorting candidates are Ezion or Straits Asia

I have missed the opportunity to short Wing Tai at 1.63 today (I do not know why, since the high was 1.64). Had to find another 2 shorting candidates.

Looked at Top 20, and found that Ezion and Straits Asia make good shorting candidates, at this juncture. Both stocks have broken below their 50-day MA.

Ezion
Bearish weekly engulfing, beginning of red parabolic SAR, price poised to break 23.6% Fibo

Sell 20 lots @ 0.70
Impt supports: 0.585, 0.49
TP1: 0.62
TP2: 0.52

Profit$2,600
Added advantage: It is a penny stock.

Straits Asia

Sell 6lots @ 1.95
Impt supports: 1.67, 1.46
TP1: 1. 72
TP2: 1.52

Profit$$2,130

Ezion would be the better candidate to short.

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