[[CRM]] This is what a perfect short setup looks like.Comments »
The Fly has been dead right on [[DECK]]. The stock finally closed below the 200 day moving average, which has been a critical support level. My guess is the stock still has plenty of room to fall.
I’m too scared to touch it, mainly because MDAWZS told me he’s long. Seriously though, the stock is heavily shorted and any good news could catapult the stock higher, make sure you check when earnings come out.
To give you an example of what can happen when a stock closes below the 200 day, take a look at the chart below (CME).Comments »
Evey time we open up strong, the sellers come in and bring the market lower, classic 2008. Opening up 100 points this morning was a gift, I used some of that strength to get rid of my weak longs and reload on [[SKF]]. I see no reason to be long at the moment, and this is coming from a ragin’ bull.
Note: Today felt a lot worse than yesterday, and we were only down 60 points. And, on top of that, CSCO decides to disappoint. Tech is not the place to be, wish I owned REW, so much for my VMW soldier.
Charts coming later tonight…Comments »