…yee ha! http://ibankcoin.com/gioblog/?p=2799
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…momentum on selling side has drastically declined. to answer your question before you even ask it… it would not be wise to enter a new short here.
You covered last Thursday around $8.50.
yeah. that sucks, that’s why I’m planning on using ChartAddict’s aggressive holding strategy next time. i didn’t think it would reach this target so fast!
Reading this post makes me feel great. Fuck DRYS.
Unfortunately, the post is a bit disingenuous. Sorry, had to say.
Gio,
You nailed this one, too.
TT
@mdawsz …that’s cool. its my first good call of the year, so I couldn’t help myself. but doesn’t the chart look like a sinking ship?
I am now out. Expecting a bounce to short one last time.
DRYS is entirely outside the lower bollinger band, making it dangerous to short.
Looks like a waterfall. My favorite.
I don’t see why it is disingenuous, since nothing about the language is insinuating that he held this whole time. He called it, it happened, it was a good call, and it’s a shame he couldn’t have made 65% in three days
and he posted his exit, and I thought, still had half at 8.50. If not, whatever.
terrible terrible terrible shame. but as always, I move on.
Gio,
Move on to EXM.
See a similarity?
yup, a cryin shame.
CA, what do you see in EXM? huge squeeze due to waterfall, or, short on spike when it attempts gap fill? Your spikers (which seems like a lucrative strategy) is not my trading forte…so I can’t tell
unfortunately for some reason i cannot understand.. my broker did not allow me to short this.
i would have done it with pleasure.
@danny …spikers are very rare. takes a lot of balls to play those. i’m simply looking for a gap down on any shipper, with a long on the gap filled.
@colombianGuy …don’t worry dude, there’s a lot of retail stocks out there that I’m sure your broker will let u short.
geez, what a wipeout. i was holding OTM calls. ooops.
They take some serious balls, but they take advantage of extremely short-term momentum on both the upside and downside. This isn’t a spiker strategy since there is no spike.
However, some breakaway gaps do not fill for a very long time, if ever. Any closes below certain support levels are highly considered, especially if they’re follow in the footsteps of a shit company.
e.g: EXM’s Dec $6 support. The wedge and mini h&s pattern are both broken. This stock is screwed. Best part is that today’s candle is still at least 50% inside the lower bollinger. Add in the 50-day MA failure, and we have a very nice short for a swing trade.