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Thursday, August 9, 2007
Short setups
6 comments:
Anonymous
said...
stewie, can i get your opinion on NMX short? thanks
NMX has a habit of spiking hard and has all the looks of short covering and once that short covering dries up. it just starts to fall for a few days and to me looks like a nice short here. Could easily drop $10 from here.
AAPL should have initiated yesterday. But what i like about is the break from that consolidation/flag which relieve some of the oversold condition. I don't think AAPL is oversold. RSI just crossed below 50 and has room to 30. A target on this decline would be around $115 if you measure from the flag. Especially if the mrkt stays weak, it would get there very quickly. looking at the futures this AM, looks like AAPL could gap down hard and that making it too late really to short. congrats on the people who took it yesterday.
6 comments:
stewie, can i get your opinion on NMX short? thanks
Good charts, would be great if you could do some longer term analysis from weekly charts too.
thanks. I will post weekly charts over the weekend. We'll get a much clearer view once the friday is behind us. good trading.
NMX has a habit of spiking hard and has all the looks of short covering and once that short covering dries up. it just starts to fall for a few days and to me looks like a nice short here. Could easily drop $10 from here.
I'd be careful on AAPL short -- everyone is looking to short that, knightrader blog has the same chart, except he warns that it could be oversold.
AAPL should have initiated yesterday. But what i like about is the break from that consolidation/flag which relieve some of the oversold condition. I don't think AAPL is oversold. RSI just crossed below 50 and has room to 30. A target on this decline would be around $115 if you measure from the flag. Especially if the mrkt stays weak, it would get there very quickly. looking at the futures this AM, looks like AAPL could gap down hard and that making it too late really to short. congrats on the people who took it yesterday.
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