NEW BEARISH Plays

CIT Group - CIT - close: 36.45 change: -0.35

Stop Loss: 37.05
Target(s): 33.25
Current Gain/Loss: unopened

Entry on November xx at $ xx.xx
Listed on November 21, 2012
Time Frame: 3 to 6 weeks
Average Daily Volume = 1.5 million
New Positions: Yes, see below

Company Description

Why We Like It:
CIT is in the financial sector. The stock has been underperforming the market these last few days. Shares look ready to breakdown under significant support at the $36.00 level. I am suggesting we use a trigger at $35.90 to launch small bearish positions. Our target is $33.25.

Trigger @ 35.90

Suggested Position: short CIT stock @ (trigger)

- (or for more adventurous traders, try this option) -

buy the 2013 Jan $35 PUT (CIT1319m35) current ask $0.85

Annotated chart: