Selling Blackstone

BX 10.11.09BX popped today on news they will sell some of their portfolio companies via M&A or IPO.  Irregardless, this stock has not been under any accumulation since May so I view todays move as nothing more than a short squeeze.  I intend on shorting it at tomorrows open with a stop above yesterdays high [around $16.48 depending on my entry].  If I’m run over, I’ll only lose .30 or so but if I’m right, my target to cover is the 50d SMA.

One thought on “Selling Blackstone

  1. Pingback: Blackstone Follow Up « Kos' Tradebuz

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