My Cisco Short

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I was pleased to see Cisco getting pummelled after hours, for it is one of my sixty-one short positions. It isn't a particular big position (none of them are, with the persistent exception of FXE), but a 9% drop is a 9% drop.

Although I hadn't touched Cisco in ages, I was intrigued by a very clean gap break and a reasonably-formed head and shoulders pattern. This was strengthened by the fact that, in the past, Cisco has behaved itself pretty well with similar patterns.

With the very large pattern shown on the left side of the chart, CSCO fulfilled its measured price target almost to the penny. With the present (much smaller!) pattern, the price has actually been fulfilled already in after-hours trading, which is at 17.20 or so as I'm typing this. I'm tempted to just cover it now, after hours, but I am really trying to avoid after-hours trading, as my rule dictates, so I'm just going to let it sit until the morning.

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