GYMB – short
Sep 28th, 2007 by Trader-8
i had an order to short WCG yeserday, but didnt get filled, which is good b/c it only has 3 letters. 
GYMB has pretty good support at 35 – 35.10; so i may take 1/2 there. the weekly shows a TL break, the daily is right at support. if im stopped, ill look to re-enter the short near 37.45 – its kinda in a channel with 40 as the appx mid-point, so ill keep an eye on that level. the big problem with this trade is the LIGHT VOLUME sometimes, although ADV is near 900k.
entry 35.82
target 29.06; ill be looking at 30 hard if it gets there
stop 36.49
risk .67
reward 6.83
R/R – 10.19:1
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Update 1 – 9/28 11:52 pst – GYMB came down to the support above 35 to 35.21. its bouncing now – thing thing had alligator blood all morning. i expect some decent support at 35 or so, so im gonna let teh trade playout.
10/01 Update the market is strong this morning even with bad CITI news. im covering at 34.90 and will look to re-enter if it bounces.
TRADE CLOSED
GYMB has been a great short setup since its first break in Feb 07. selling can never be manipulated, yet the buying can, and manipulated buying has been the game IMO on this trade. everytime it sells off it gets bought up rather heavy. GYMB has been trading in what i refer as an IRON BOX of between 45 and 36 [$34.60]. this means that a price move above 45 would warrant a purchase and a break below 34.6 on sizable volume warrants more shorting. The initial short entry point on GYMB was on the recent 38 break as the price sits under a negative black cross “MA50
Who is user “txiron” in comment 3 above ? Is it you Trader-8 ?