CTXS Short

[rented mule]

I'm very much into technical analysis and I developed a scan over at stockcharts that has been doing very well. It's a DMI buy and sell scan. It gives me a handful of stocks every day and I read the charts to see if there's anything worth going long or short on.

This morning, I shorted CTXS at $22.40.

If these continue to do well, i'll keep posting them.

[BettorsChat]

What kind of technical analysis did you come up with for a short?

[rented mule]

What kind of technical analysis did you come up with for a short?

It's based on ADX and DMI. Obviously, this was a bad first one to post after the rally this afternoon. The beauty of the system is that it usually identifies plays that do not necessarily move the way the overall market does.

If you could tell me how to post an image, i'll try to put the chart in this thread and describe what I did. I need to be able to link the image rather than attaching it, so I need to know how to tag it.

[rented mule]

I normally don't do this, but I shorted another batch at $23.00. It's right near the 50 day moving average and i'm hoping that provides some resistance. Setting a tight stop at $23.10, though, to get out of the entire position.