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We approach the day of peril on Wednesday! I have 33% of my account in cash reserves, and I won’t deploy it until Thursday morning, once the FOMC insanity is done. In the meanwhile, here are my eight bearish positions in my secondary account:
We approach the day of peril on Wednesday! I have 33% of my account in cash reserves, and I won’t deploy it until Thursday morning, once the FOMC insanity is done. In the meanwhile, here are my eight bearish positions in my main account:
Normally, when one is hunting for intriguing short-sale setups, he might think the way to go is to look for something that’s really expensive and near lifetime highs. I’d like to offer a fresh example of something that doesn’t fit this mold.
Here is Unity Software (symbol U) which, as you can see by the tint, is sporting a remarkably well-formed head and shoulders pattern. It has all the characteristics you’d want to see: a well-defined shape, an easily identified neckline, a sharp drop, and a full retracement. This looks just a great place to short, or at least watch very closely to enter a bearish position.
Here are some intriguing bearish opportunities whose prices are on the high side. As a person who simply buys puts, I am drawn to expensive stocks since there’s more juice in them. In other words, the absolute change in dollars can be much larger yielding bigger profits.
Cinemark (CNK), shown below, enjoyed a brief foray into the world of being a meme stock. That has passed (as has most meme stock fever) although its substantial price gains are still intact. I’ve never traded this in my life, to my recollection, but I’ve decided to buy March $30 puts on this sucker, using that horizontal line as my stop-loss point.
