Shorting DHI

DHI dailyDHI will be added as an active short here around the 22.28 level as it is just starting to break below this daily bearish rising wedge pattern.  For now, T1 (17.80) is the final target.  A stop above the 23.78 level would provide about a 3:1 R/R on the trade.

Note:  DHI, along with the active short trades PHM & LEN is a homebuilder stock (not to mention the active short on the Homebuilders etf, XHB).  I will often focus on the most bullish (for longs) or bearish (for shorts) sectors when adding trade ideas to the site so always make sure to check the industries in which your holdings or watch-list stocks belong to as to avoid overexposure to any one sector.  Remember, birds of a feather flock together.

Apr 15, 2013 12:40pm|Categories: Completed Trades - Short|Tags: |Comments Off on Shorting DHI