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I have no position in ATML, and seeing as I almost never play earnings, I will stay away even though they report tomorrow. However, I must say that I have to wonder how many buyers are left right here, right now. The above monthly chart shows a stock that makes the phrase “going parabolic” look like the understatement of the year, with the stock residing outside of the upper monthly BB for the past several months. Yes, I am aware of all of the awesome fundamental arguments about the firm. However, I have to wonder what the company can actually say tomorrow that will cause a huge upside surprise.
Today, the stock is printing a bearish engulfing candle on heavy volume. For those of you that are inclined to gamble on earnings, I thought I’d throw the idea out there of taking a bearish position on this, as the risk/reward for bears looks favorable.
How about DBLE?
I call that candle the “double haha psych em all out morubozu”
the double haha for short
Hey Danny, when did you stop writing?
I didn’t, click the link on my name. Just took it to my own blog is all.
ATML is trading with a ~57 mulitple. It was a 5 and change stock over the summer. They use the word “touch” and “technology” egregiously. What’s not to like?
Cheggitout —
Your Superbowl Half-time Strafe Tweet made Business Insider’s round-up.
Yours is in the middle, more toward the end than the beginning.
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Haha indeud.