KRY's Chart Looks Great...
...Only if you're short!
Today we are dropping below the previous low in the downtrend and as you can see in the chart, every time we have done that, we have continued to go lower.
I have been short KRY a couple weeks now and I am beginning to see small paper profits. This is still an experimental position for me but the chart is telling me that the trend is down so that is why I am short.
The exit point for me will be a 30 day Moving Average crossover. Currently, this stands at $4.05 but it continues to adjust lower every day acting as a sliding stop loss to protect gains and prevent losses from getting too large.
Posted by Mike – June 28, 2006 – 11:47