11/10/2009

MON Update

Just an update on Monsanto (MON). After breaking through a bearish channel, MON has retested this breakdown zone on a short-covering rally inspired by a reaffirmed guidance from management. This is a picture perfect opportunity to add to shorts. If price closes above the trendline for 2-3 days, then it's time to consider covering. Thus the exit strategy on the downside could be to cover if price breaks above 78.71 and closes above the trendline.