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Sabrient Select Opportunity Portfolio - Shorting CCI

Sabrient's Scott Martindale is shorting CCI.  PSW has been been posting email notifications when Scott adds, decreases or closes a position.  

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Sabrient Select Opportunity Portfolio

Sell Short CCI

The market is hugging the flat line today, awaiting a week chock full of economic reports, earnings announcements, and options expiration activity. The small caps are underperforming pretty strongly today. 

With the risk more pronounced to the downside after last week's short-covering rally, and the markets staring at resistance from the descending triangle (shown in my Week Ahead message earlier today), I'm looking to add another short position. 

Crown Castle International owns, operates, and leases towers for wireless communications.  It carries a STRONG SELL rating in the Sabrient Ratings Algorithm, a dismal Company Outlook Score of 1 and Value score of less than 1.

I am adding it as a Short position to the Select Opportunity Portfolio at a price of $37.46.

I'll keep a mental stop of a closing price above Friday's high around $38.90.

Also, regarding short position HST, I'm continuing to watch it closely but taking no action on it today.

Best Regards,

Scott Martindale

Disclosure: none