Looking Short

It only takes a down morning before the question of "what's wrong?" pops up.  Nothing is wrong here. A little caution before Bernanke. After all, you can't spell Bernanke without "bank," so we've got some folks banking profits this morning. I can't blame them. It even has me looking short on a few names.

First up is Terex (TEX) and this one is based purely on the chart. The stock has already dropped quite a long way, but there could be more to go here. TEX bounced after the sharp June decline, but this appears to be nothing more than a bearish flag. A break below $28 triggers the flag and we are getting the break this morning. The first target here is $25, with a final resting place possibly closer to $23.50. I've gone short the stock, although the August $28 puts are a decent alternative to minimize risk and play the same target. But there is some a good amount of time premium in those August $28 puts, so a close eye needs to be kept on time as well as price....204 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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