short syna

[cashmoney69]

http://stockcharts.com/h-sc/ui?s=SYNA&p=W&b=5&g=0&id=p39102498206

great chart setup...perfect double top.

I went short at 36.23 with a stop at 40, risking 1% of account, and will re-short at 40 if reached.

 

[yayt]

I agree, it also made lower lows recently, seems like a very good setup

 

[TM1982]

Looks like a good short. Just be aware that there were some DELL takeover rumors making the rounds this morning.

 

[hoodooman]

Too soon.

 

[yayt]

I'd suggest a stop at 37.00, and would not add to a short unless it got to 41 and started to pullback a little

 

[gorilla_speaks]

Quote from yayt:

I agree, it also made lower lows recently, seems like a very good setup

From the Dec. low, it looks to me like it has been making higher highs & lows.


I see the double top (possible triple top from the Oct 07 high) and the declining volume from last Oct. but I don't see any divergence in MACD or any other indicator I follow. It could fall on its face tomorrow but I don't see any weakness yet.

Good luck but consider hedging your bet with some options.

 

[cashmoney69]

im only risking 1%, but i would use options if I could ever get approved.

GS and RIMM are also on my hit list

 

[NoDoji]

Shorted SYNA end of day for a .17 scalp, but didn't put on an overnight because it has something like a 60% short interest and should give a better entry price in the morning. When SYNA falls, it REALLY falls, and I'd like to catch some of that next move.

NTAP looks good for retracement.

RIMM definitely setting up.

 

[cashmoney69]

trying this again at 35.52. last trade was a small profit, lets see if we can get some momentum going here.

 

[hoodooman]

TOO SOON.