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Shorting Nortel’s Down Trend – NT

Feb 7, 2008 Technical Analysis

NT is stuck in a very strong descending channel trend with continuous bearish behavior. Wednesdays session broke down its latest support area while dragging price action down over 6%. This breakdown places increasing momentum on the bear side which signifies to the continuation of the year long down trend. I want to go long NT tomorrow. With a stop on a breakout of the prior support/ now resistance area near 12.12.

Technical Analysis:

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Untitled Document

June 09' - Portfolio Return: +2%
TSTR	1.48	1.66	+10.84%
CHLN	4.36	5.45	+25%
MEA	4.35	5	+13%
ACTC.PK	.19	.245	+28.95%
LVLT	1.25	1.65	+32%
DAN	1.40	1.85	+32.14%
GMGMQ	1.04	1.55	+49.04%
ALTU	.4347	.475	+9.27%
GNVC	.7972	.895	+12.27%
BZ	1.85	2.46	+32.97%
CTIC	1.41	1.76	+24.82%
CZZ	5.11	6.3	+23.29%
MAY 09' - Portfolio Return: +23%
EGO	8.89	9.80	+10.24%
WGW	2.08	2.55	+22.6%
ANPI	1.205	2.17	+80.08%
PMI	2.01	2.15	+6.97%
TEN(S)	6.18	4.96	+19.74%
RDN	2.565	3.21	+25.15%
NCOC	1.60	2.30	+43.75%
PQ	3.60	4.25	+18.06%
CPSL	1.83	2.82	+54.10%
WRES	1.86	2.39	+28.49%
CDE	1.265	1.62	+28.06%
IO	2.27	2.85	+25.55%
HNSN	4.95	5.77	+16.57%
PWAV	.785	.876	+11.59%
APRIL 09' - Portfolio Return: +17%
BZH	1.46	2.30	+57.53%
QTM	1.03	1.43	+38.83
MHO	9.90	11.45	+15.66%
CAR	1.05	1.45	+38.1%
BZH	1.46	1.64	+12.33%
FEED	3.10	4.15	+33.87%
CPSL	1.34	1.66	+23.88%
TSL	11.91	13.45	+12.93%
LDK	7.02	8.05	+21.08%
YRCW	5.61	4.17	+25.67%

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Shorting Nortel’s Down Trend – NT

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