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I shorted GES Friday morning. Here's why.

|Includes: Guess? Inc. (GES)

I shorted GES on Friday morning. You can find the details including a chart here.

Basically GES was sitting in the sweet spot between the 10 and 30 day moving averages. Though earnings come out in the last week of expiration, we won't be holding them that long.

The textile sector is basically in the middle of the pack when compared to every other sector. That's what I prefer, nothing too crazy... I just want the stock to drift in the "right" direction.

Due to the price of the stock, there are not a lot of choices for strike prices, so we are a little closer to the money than usual. That's OK because we still have some wiggle room for the stock to move around.

The order did not get filled after the first half hour so I caved in to the mid point to get filled. Unfortunately, GES rallied later in the day. Go figure!

Fortunately, we have a plan in place so that if GES does continue to rally, we won't suffer an unreasonable loss.

Good trading!

Disclosure: Short GES