LU must break out from this dreadful downtrend line or this pop would be just another good short! The hammer stopped right below SMA20 too. We shall see soon how the bulls and bears resolve on this one.
Tag Archives: Short
YHOO breaking out?
YHOO is forming a triangle here. If the triangle is resolved from the short-term trend, which is up, the breakout should be on the upside; if it’s resolved from the intermediate-term, it will go down. I will try to see if a long on a slight OTM calls for May or June would work. A May 37.5 Call is currently sold at 0.60.
YHOO
YHOO is facing the overhead resistence. If it fails to break out this downtrend line, it’s good time to short it.
GOOG
GOOG closed at the previous resistence and new support at SMA 20. The spike on the intraday was probably caused by short-squeeze, but it did’t follow through at close.
XOM
Like all energy related stocks, XOM is quite extended. This bounce may be a chance to short it. The stop can be placed somewhere above the SMA5.