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Berger: The shorting trend in US stocks
Although the US stock market is closed Monday in observance of Martin Luther King Day, that hasn’t stopped US stocks from driving market trends. As North American companies continue to prepare investors for lower than anticipated fourth-quarter earnings, a large market dedicated to shorting stocks has appeared. Serge Berger, better known as The Steady Trader, is set to take advantage of the sell-offs occurring in the consumer discretionary sector, shorting Tiffany & Co. and Lululemon.
Despite claims to be on target with 2013 expectations, Tiffany’s missed analysts’ expectations causing the stock to fall towards a technical gap. The stock price has fallen below its 50-day simple moving average. Berger is looking to short the stock at 86.75 with a stop at 89.30 and a target level of 81.50.
Lululemon, a high-end athletic clothing company, has already warned investors of low fourth-quarter earnings. The stock has collapsed and Berger plans to short the stock at 48 with a 42 target and a stop set at 50.
Read more about Berger’s outlook on US stocks here: http://bit.ly/1bcSpB6
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