My only surprise here is I was not stopped out late Friday; the stock fell a few cents short of stopping us out. As I reviewed the charts of the few shorts remaining in the portfolio this weekend, this one had jumped back over resistance late in the session Friday so we were expecting this; the main question was what price we'd be taken out at. I am fine with the thinking that went into this move as we were trying to maintain a modicum of short exposure, but everything is now surging so Analog Devices (ADI) joined the rest of the market in good times.

id=BLOGGER_PHOTO_ID_5391730219902485538Our stop loss was $27.53 but with the stock gapping up this morning we were taken out over $27.60. Entry was in the $26.80s, so a manageable 3% loss with a 2.2%ish portion of the portfolio.

And with that, the freight train the past week has stopped us out of almost all our short exposure.

No position