NEW BEARISH Plays
CoreLogic, Inc. - CLGX - close: 24.16 change: -0.95
Stop Loss: 25.25
Current Gain/Loss: unopened
Entry on April -- at $--.--
Listed on April 10, 2013
Time Frame: 2 to 4 weeks
Average Daily Volume = 861 thousand
New Positions: Yes, see below
Why We Like It:
CLGX is in the financial sector but the stock is clearly not participating in the sector's rally. Shares of CLGX have produced a very volatile first quarter and now they're breaking down through significant support to hit new multi-month lows.
CLGX's lack of participation in the market rally is pretty bearish . The stock had been consolidating sideways the last few days but shares broke down past support near $24.50 and its exponential 200-dma today. I am suggesting new bearish positions now at current levels. Our short-term target is $22.15. More aggressive traders could aim for the $20 area.
current Position: short CLGX stock @ (the open)
- (or for more adventurous traders, try this option) -
buy the July $22.50 PUT (CLGX1320s22.5) current ask $1.05