On Monday two of the targets were hit, resulting in short positions on SYY and PMI. PMI played out as expected an the position was initiated at 41.25. SYY released solid earnings and gapped open higher at the opening and allowed for an entry price of 33.75.
We narrowly missed out on JPM again, the tarrget short price being 45.50. The stock traded to 45.40 and backed right off - right strategy, needed to be more aggressive. Need to get more aggressive with this one and put out the short anywhere above $43 a the downside risk in this stock is palpable.
IBM holding strong in the chaos.
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