Smoke Em If You Got Em

The day started well for me as some tobacco stocks got torched. I had put CG out as a short on Feb 4th with a trigger short at $82, the stock closed today at $76.92. And MO was taken out of the Dow 30-what an insult man. I also shorted LTR around the open and picked up a fast 2 pts. I don't have an overwhelming amount of optimism here but I'll take what they give me. Agriculture was on fire today due in part to short covering. I have AG out as a short and my stop is at $61. One of my favorite names of late is CREE and I have had this one out since around $28. It exploded today on almost 6 million shares and tagged $34.27. Hopefully I will be back later with a chart or two.

That Damm ISM

Futures were already lower yesterday,but when the ISM number was realeased,evidently the worst number since 2001,things became unhinged. The technicals confirmed the bad action as declines led advancers 26 to 5 on the Big Board and 23 to 6 on Nazzy and up/down volume was even worse-about 12-1 on the New York.
Futures look a little higher here but I am not getting too excited as I will be looking to short rallies as they present themselves I still like the shorts posted from yesterday CERN and CG as well as the two just posted.

Not Much News This Morning-2 Names

Although Asian market are much higher. Some names I am looking at on the short side are:

CERN- recently broke a 5 year trendline-target 44 then 40-would like it to bounce a bit first

CG- I would short around $82 with volume confirmation of about 1mm shares-target $70