The Dean’s Early Halloween Treat: Short COF

October 28th, 2008 at 1:53 pm Posted by The Dean

I’ve been shorting COF on the rallies all day ($38.65 @ 12:30EST) and ($39.38 @ 1:40EST) and I will continue to short COF on signs of strength.

Check out the 5-day chart below. It’s very obvious (at least to me) that COF will eventually re-test the $33 intraday low set on Friday Oct 24th. I believe COF’s recent run to $38-$40 is a Trick that will turn out to be a Treat for smart investors playing the short side. It’s like stealing candy from a baby a few days prior to Halloween!

Happy Trading, The Dean

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