NEW BEARISH Plays
Textainer Group - TGH - close: 30.20 change: -0.93
Stop Loss: 30.75
Current Gain/Loss: unopened
Entry on October xx at $ xx.xx
Listed on October 25, 2012
Time Frame: exit prior to the Nov. 6th earnings report
Average Daily Volume = 215 thousand
New Positions: Yes, see below
Why We Like It:
TGH owns and leases marine cargo containers. You might think that with the rising Baltic Dry Goods Index ($BDI) it would indicate growth in oversea shipping demand. Yet if you look at shares of TGH the stock has been underperforming. The stock is actually poised to breakdown under key support near the $30.00 level.
Today's low was $29.66. The April 2012 low was $29.53.
I am suggesting a trigger to open bearish positions at $29.45. If triggered our target is $25.25. However, we do not want to hold over the Nov. 6th earnings report so we only have a couple of weeks.
Trigger @ 29.45
Suggested Position: short TGH stock @ (trigger)