Since it is obvious the momentum lies clearly with the bears, I decided to do an extensive search for short picks. There are so many beautiful setups out there that I will have to put them in multiple posts. Take your pick!
The next part follows shortly!
Take care and good luck.
9 comments:
I bought AONE @$10.68! Said to see it now a good short target. Do you see it ever get back to $10? Thanks.
I am afraid technically speaking, 10 seems a far way off. But then, I know nothing about the fundamentals of the stock. Did you buy it for fundamental or technical reasons?
CNX and BBY look like good shorts to me with the possible addition of AONE. AONE from a fundamental standpoint doesn't look very strong, right now there headed in the wrong direction bleeding money with hardly any cash flow, their accounts payable has nearly doubled in one quarter. Last year they diluted the share price by selling $500 million worth of additional shares. This company needs an electric car revolution and fast and as far as im sitting, until they make a car that goes at least 500 miles on a single charge, im not buying the car or this stock. I say from a technical standpoint it will probably fall to 6.50-6.65 in the near term and then bounce back to around 8.00-8.50 but i think even getting back to 9 in the next 6 months will be tough for this stock unless the overall market/economy picks up and drags this stock with it, im just not seeing the demand picking up in the electric auto industry at the moment and it wont until they become reliable not just affordable. Sell your TSLA shares too ;-) Thanks postiontrader great post!
Thanks for the awesome contribution, as always I might add, Bill! I am sure your comment will be very useful to Anon.
I bought AONE after reading RC post just before the spike but things quickly turned ugly when earning came out so bad. Maybe I need to eat the 30% loss to get out now. A painful lesson to learn for a new trader.
Thank you both. I also bought $ENER about the same time follow RC's post. Can any of you give me your view on this stock's near future? I bought even more shares of it and now more than 30% down. If I sell them now my loss would be about $5000.
As long as one learns Anon 1. Consider it as tuition for the stock university.
I dont see a support for ENER till 3.75 but that obviously doesn't mean it has to go straight down till there. I cant advise you on what exactly to do as I don't know your risk tolerance but that's one ugly looking chart. One thing I would certainly advice against is averaging down more than you have already done. Why throw away good money after bad??
Thank you for the good advice. I was tempted to buy more but you are right that money can be made in other places.
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