Sunday, October 5, 2008

READER'S REQUEST - Cellcom Israel (CEL)

A reader just made me aware of a perfect shorting opportunity in CEL. Now would actually be a perfect time to enter a short position to be held for at least 3-5 days. Using the 50-day MA as a guide, the pullbacks into resistance are orderly and predictable. The highest likely move for CEL is down. No long positions please.


Anonymous said...

John, I am thinking of moving into either DXD/DOG or SH/SDS after the next rally. Thanks for your thoughts...J

John C. Lee said...

I like DXD and DSD because the volume is high, very liquid. So far, the market looks like it will gap down 1-1.5% in the morning.

However, any major intraday reversal on high volume will mark capitulation and a bounce will be underway. At that moment, all shorts must be switched out to long positions.

Monday or Tuesday could be that day. who knows.