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I got a real scare this morning, when I saw one of my short positions, Lumen (LUMN) was absolutely roaring higher thanks to Mark Zuckerberg prancing out and announcing that META and LUMN were going to enter into a partnership related to — what else? – – AI. Mercifully, after the market digested the news for a bit, they decided that it was a total BFD situation.
I’ve got fourteen different short positions (all of them constructed simply as long puts expiring in January, March, or April). Here are my seven favorites among them, and as always, click on any chart for a larger version.
May I offer, for your examination, symbol ADM to consider as a long-term short sale? It moves slowly, but its history certainly suggests that it is in a very vulnerable spot right now!
The symbol EWZ has been hammering out a textbook example of a head and shoulders top, although it is only about 90% complete. The neckline is at 26.23:
For the first time in weeks – – and it feels like months – – we got a decent sell-off today. Perhaps there’s a law that says that, in a given calendar year, when MarketEar issues their 1,000th raging BUY post on Zerohedge, the market is required to fall. In any case, I welcome the red, and below are eight of my existing bearish positions whose patterns I find particularly tasty.
