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Berger: Bye bye Barbie

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July 21, 2014 barbie, markets, mattel, sales, sales figures, sales numbers, sales tax, salesforce, salessales, saxo, saxo bank, saxo bank group, saxo bank saxo tv, saxo bank trading floor, saxo bank tradingfloor.com, saxo traders, saxo tv, saxo tv saxo bank, saxo tv trading floor, saxo tv tradingfloor, saxo tv tradingfloor.com, saxobank, saxotv, serge berger, shares, shares 2014, shares and tapering, shares down, shares drop, shares drops, shares europe, shares or bonds, shares prices, shares up, stock, stock decline, stock dividends, stock exchange, stock futures, stock levels, stock market, stock markets, stock pick, stock picking, stock picks, stock price, stock prices, stock trading, stock trading 2014, stocks, stocks markets, stocks to watch, stocks unstoppable, toys, trade idea, traders tale, trading, tradingfloor, tradingfloor saxo bank, tradingfloor saxo tv, tradingfloor.com, tradingfloor.com saxo tv, us economy, usd, wedge, wedge formation
Serge Berger's trade for today is to short Mattel, a firm which may be seeing consumers saying bye bye to it's best known brand. The toy company hasn't had much fun and games in Q2 with sales of its iconic Barbie doll down by around fifteen percent.
So a difficult time for the company last week and the firm's stock price fell around 8% on the week. From a technical perspective Serge says the stock fell out of a 'Wedge' formation and out of the 2009 uptrend for first time ever.
So Serge suggests the following trade:
 
Short Mattel stock:
36.50 USD
Target: 33.00 USD
Stop: 38.00 USD
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