NEW BEARISH Plays
Titanium Metals - TIE - close: 12.37 change: -0.43
Stop Loss: 13.05
Current Gain/Loss: unopened
Entry on October xx at $ xx.xx
Listed on October 3, 2012
Time Frame: 6 to 8 weeks
Average Daily Volume = 1.5 million
New Positions: Yes, see below
Why We Like It:
The September rally in TIE is reversing. Shares tried to hold support near $12.50 and its 50-dma and 150-dma but it didn't last. TIE underperformed the market with a -3.3% decline today.
I am suggesting small bearish positions at the open tomorrow with a stop loss at $13.05. Our target is $11.00.
Suggested Position: short TIE stock @ (the open)