Monday, June 25, 2007

General Motors (GM): Low-risk Short

I used GM as an example for presenting the TD Ratio indicator I constructed using the Blocks Player. What caught my eye was the recent trading range between 37 and 29. I then made a mental note to short GM if it got back to the 37 point and then gave a TD Ratio sell signal.

GM gapped up today after it was upgraded. It then gave up the price and ended only 0.81 cents higher. Looks like a lot of weak hands just entered GM at this swing high.

I plan on shorting GM tomorrow.

No comments: