Wednesday, May 20, 2009

Watching BDX for Short Ops

Here is the chart of BDX (Becton Dickinson and Co.), the stock has failed to overcome supply (resistance). The price action is demonstrating a series of lower highs in other words a downtrend. Heavy volume on distribution days and light on buy days all these are pointing to a high probability much lower prices ahead. My game plan is to enter short at the break of yesterday's closing price which is around the $64.50 level.

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