Traders are overwhelming Bearish and shorting $OSTK. Great profits have been made and today borrow costs were again increased. I believe a near term bottom is in sight, as the stock has trade to technically oversold levels as measured by RSI. Should Crypto's rally significantly, or ICO investigation is completed, or e-commerce biz is sold, shares will trade materially higher as shorts buy shares to cover. This is a contrarian idea, as momentum and setiment remains strongly bearish. PT is 40, time frame is 2 weeks. Stop loss is down 7% or $29.29
Good Luck Trading.
Good Luck Trading.
Kommentera:
almost to $40 buck today on the tailcoats of the rally in Cryptos! Will exit 1/2 the position at $40 and keep the rest of shares for the long haul. This thing can GO ALOT HIGHER LONGER TERM IF SHORTS GET TRAPPED, WHICH MAY BE UNFOLDING. STAY TUNED!!
LONG $OSTK
Good Luck Trading.
LONG $OSTK
Good Luck Trading.
Kommentera:
As described yesterday, sold 1/2 my position at $40.05 this morning, and am still long the other half from the low $32s.
Good Luck Trading.
Good Luck Trading.
Overall, I still like the set up, though closing above $37 would have been a better formation. In friday's trade, it still was a meaningful spread over the sector and Russell.
Good Luck Trading.