Friday, May 1, 2009

MS


MS has tracked back up to the daily trend line. It broke the trend last week and I missed the trade. It might be setting up for another chance at a short. Just watch your smaller charts for signs of weakening and possibly short the stock. Stress test results next week could make MS very volatile. Keep that in mind. You can by calls for protection relatively cheap so you can sleep at night.

The $26-$27 area is resistance with 3 tests in the last 2 months or so. Stop out at $28 if the short goes against you because it could breakout from there.

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