This is a setup for an entry short in Microsoft Corporation (Public, NASDAQ:MSFT.) Both the daily and stronger weekly chart are close to reaching prior supply zones. I will wait for MSFT to climb into the zone and then fall back out. I will open at $31.02 as she falls and cover below at the projected prior demand zone. Stop loss should be no higher then $31.67 (off weekly.)
**MY BAD** I posted that the stop should be no higher then $61.67 (WRONG.) It should have read no higher then $31.67. I've made that correction in the post above.
Update: Trade idea closed no entry 2/23/12
Again to remind everyone.
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