Joined Jan 27, 2008
7,405 Blog Posts
© Copyright 2007-2024 iBankCoin All rights reserved under penalty of bodily harm. DISCLAIMER: This is a personal web site, reflecting the opinions of its author(s). It is not a production of my employer, and it is unaffiliated with any FINRA broker/dealer. Statements on this site do not represent the views or policies of anyone other than myself. The information on this site is provided for discussion purposes only, and are not investing recommendations. Under no circumstances does this information represent a recommendation to buy or sell securities. DATA INFORMATION IS PROVIDED TO THE USERS "AS IS." NEITHER iBankCoin, NOR ITS AFFILIATES, NOR ANY THIRD PARTY DATA PROVIDER MAKE ANY EXPRESS OR IMPLIED WARRANTIES OF ANY KIND REGARDING THE DATA INFORMATION, INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. Privacy Policy
Cajun- I’ve got to urge you to start using the 50 day average as a guide to entering these. Add the 50 day avg. to this same chart and the perfect entry will magically appear.
While this looks like it could fall significantly tomorrow, it is really close to oversold. I would not feel very comfortable shorting it when it is so oversold.
Woody, that may be true, but many stocks break down with a close below the 200 day, look at CME.
I do appreciated the comments, as my T&A skill are not nearly as good. But, to me this looks like one hell of a setup.
Karma points for looking out for me.
another note: the stock trades at a P/E of 500.
Check out DV. Now that is a perfect short setup. Textbook. Broke 3 months support, closed below the 50, & the 200 lies 7 points or 15% below for the next possible support.
And in the same educ biz: STRA has formed a big top & looks leaky to me.
thanks for the heads up Juice, I’ll check into it.
No doubt they do breakdown with a close beneath the 200. However, how do you enter them before they get oversold? Before they break beneath the 200? When they test the 50 day, that’s how.
I’m not tring to bust your balls, but entering CRM at this level, on Thursday morning, is the same as buying a 52 week high. Chances are the momo carrys it through- but if the markets reverse, look out. Just like buying dips is the key to winning in the bull, selling short on strength is how you win in the bear.
Keep in mind Cajun I can no longer enter trades at work, so I have to be very careful about my setups now, as I have to enter before/after hours and use limits. If the trade immediately moves against me, or some stupid news is released, I can do nothing about it. So, I’m more selective now.
Juice, I tried to short STRA a week and a half ago, but couldn’t find shares to borrow.
If you need a long play or safe haven, look at ACV. Broke resistance about a week ago at $26 with volume. Now using as support even in this tape the last few days.
Woody, keep the comments coming. A retest of the 50 day is golden. I’m bullish by nature, so any hints on what to look for when shorting are appreciated.
F50 funny you said that, because I was looking for a long play, but couldn’t find one. I check it out.
I’m trying to get develop a format at night, one short idea, one long.
Co-sign, Wood. I got short this pos with puts at $62. A bit risky at the time, but looking at that PE of 500 just made me laugh. I had to put my money down on this, so hopefully it will break that damn 200 dma and SINK. Good luck yall. Thanks Caj. Keep pumpin dem out.
ACV long $26 as your support. Institution money/Big money coming in.
I booked a 1.50 share loss in DV short because I thought if the breakdown would happen it would happen quicker after the earnings miss. Thanks for pointing it out, it is a good short still.