Sunday, December 9, 2012

Polaris Industries - Short pick

If the market turns weak next week, here's an idea that may work well on the short side. Polaris Industries (PII) is forming a nice H&S pattern with neckline around $79. You get some early entry on break of $80 and then add more on break of $79. We may see some support at 200sma, but the eventual target is the July low of $68. Nice volume on the downside gives it  high likelihood of working out.

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