Bookkeeping: Short Athenahealth (ATHN) ... Again

I plan to remain disciplined even in a market that only goes in 1 direction and keep sending out scouts on the short side, even though most return decapitated.  After a big pop on earnings (which we fortunately covered our short just hours before), Athenahealth (ATHN) has fallen back below some moving averages, once more giving us a solid entry point and a "bad chart" to offset the 90%! of stocks now above their 50 day moving average.

Again I will short a 3% allocation around $38.50 and assume I will be blown out of the water if the S&P jumps over 1170 (it's just a matter of time isn't it?)

As an aside, part of this 'game' is pure luck - I had mentioned both Shanda Interactive (SNDA) and First Solar (FSLR) as bad charts last week but they were not my first 2 choices; instead I went with 2 names that were stopped out within 24 hours.  I should have gone with option #3 and #4 in retrospect - SNDA even announced a stock buyback yesterday and still can't find life. Talk about dispiriting.

With so few stocks below the 200 day moving average - these are serious outliers.  If the market is ever allowed to sell off again, I assume they would really begin to take body blows.

I still have my 2 retail shorts (bras and $300 jeans) which somehow I have not been stopped out of yet (just missed by a few pennies on one of them this AM), even as retail stock after retail stock surges to the moon. 

The British pound also remains a mess as the "mini US" swirls around the drain.

Short Athenahealth in fund; no personal position

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