Thursday, November 15, 2012
ACI Arch Coal Inc. Short
Almost went long ACI before the election but didn't want to risk it, good thing. False breakout above 8.50. Went short after Obama win, and gap down. In at 7.61 short. More pain to come, targets 6.25, 5.75, and 5.25. Expecting oversold bounce here in the future, presenting another short potential. Recent channel break.
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Bounce off 6.25 as expected. Got stopped out at 6.80 this morning. Will look to short at higher prices. Looking at $7.00 level
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