Short Cintas (CTAS)
7 05 2008I love the pattern that has developed in Cintas (CTAS). I see this short setup over and over again and when it looks like the market is going to turn down for a while I just run a scan for it. What I look for is a stock that has already broken below its TD Sequential stop-loss point and is then climbing back up for a retest. I enter the short on the retest and use the lowest low between the 1 and 13 count of the TD Sequential countdown as my buy-stop.
[...] because the short covering rallies can be fast and furious. Here is my plan for CTAS, which I shorted last month. I like to use the ABC pattern as a way to determine a price target. Basically, I take the [...]