Monday, January 5, 2009

Shop Lifting



RTH: Well RTH rallied today right up to the 78.53 Resistance Line I drew yesterday. I bought some April Puts on RTH today. We have Retail numbers that come out tomorrow morning, which I can't see being anything great.
Reason why I am bearish again RTH are as follows:

  1. Short-Term Overhead resistance at 78.53
  2. Longer-Term Resistance at 50% Fib Retracement
  3. Longer-Term Poor Fundementals on the overall Retail Sector