Thursday, January 7, 2010
at 1:28 AM | 2 comments |
GMCR: Time for a quick short?
GMCR has been rocketing upwards lately, but it looks a little top heavy here with those nice high wicks. Be very careful playing with fire, this is in a SERIOUS uptrend. Have your sell button ready if this starts to fall.. be ready to take quick profits on the short side if it drops, no need to hold onto a short in a huge uptrend. GMCR could reward you with a quick move down here before it resumes its uptrend... Be patient and wait for a down day in the markets, I feel like this will get killed with overall market weakness.
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2 comments:
This could drop more easily, but if you happened to catch it today.. good for you, move on to the next trade.
If you're feeling lucky, I think it could fall down to 78 or even 75 before turning around.
Update:
Looking like a perfect short...
http://chart.ly/kwb9ab
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