NEW BEARISH Plays
Cohen & Steers Inc. - CNS - close: 27.68 change: -0.67
Stop Loss: 29.25
Current Gain/Loss: unopened
Entry on November xx at $ xx.xx
Listed on November 5, 2012
Time Frame: 3 to 6 weeks
Average Daily Volume = 182 thousand
New Positions: Yes, see below
Why We Like It:
CNS is a global investment manager. Unfortunately for shareholders the stock is in a down trend. Shares broke down under significant support near $30.00 several days ago. Now the oversold bounce has failed at the simple 10-dma. Today's relative weakness (-2.3%) looks like a new entry point for bearish positions.
I am suggesting small bearish positions at the open tomorrow. We'll use a stop loss at $29.25, which is just above Friday's high. Our target is $25.15.
FYI: The Point & Figure chart for CNS is bearish with a $19.00 target.
Suggested Position: short CNS stock @ (the open)