13Mar11:07 amEST
This Trade is a Contender Now; Chess Moves
I just went short AXP at $80.07 with a cover-stop over $84 on a daily closing basis.
This position equates to roughly 4% of my portfolio capital.
AmEx is a name I have charted extensively as a bearish confirmed top for a while now. And after a snapback rally I am simply playing for that top to continue to force the issue lower.
I will present the chart in a bit.
Current holdings: Long GOGO, Short AXP, Short GOOGL, Short LVS, Short TSLA, Short UAL.