BBi had a nice drop on friday putting the short position back into the profit zone. we are still strongly expecting much more downside. holding shorts here. still LONG CBMX. best, surfer
Marketsurfer, Here's my guess why you are short BBI: If you look at the weekly chart, BBI has hit the neckline resistance of a head and shoulders breakdown. In addition to this pattern, BBI is also forming a Gartley 222 bearish reversal pattern. Nice combination to have to increase your odds!
we are nicely in profits in our large BBI short position. holding here as the drop continues... best, surfer
thanks, achiever. yes, those factors are nice to have on my side, but no that is not why i initially shorted BBI. best to you ! surfer
A Gartley 222 bearish reversal! Oh yeah, I always make sure I'm on the right side of the Gartely 222.
My analysis shows that today we had that lovely "invisible hand" of mutual fund propping to keep this market floating. I let this market chop its way around today instead of trading it given these indications. The natural flow of the market was interrupted by powerful buying and support today. I expect to see some more of these antics into tommorow, but I don't think they can hold it up for long. This can make for unpredictable action for tommorow so be cautious on any short-termers. I would be somewhat suprised if they can hold it up all day tommorow, but if they do I think we see a continuation of the downside later this week! BBI is still a stubborn issue, dip buyers continuing to defend it when possible, you'll have to be patient on this one in my opinion. Goodluck,
Let me get this straight, three weeks ago you start a thread telling everyone your short BBI as if anyone here even cares. Then on 9/15 you kick this thread to the top again posting after the bell that you added "heavily" again not mentioning share sizes or anything or giving any reason for the trade. So your short the first time at 21.47. The second time you shorted near the close on sept 15. Lets see, BBI closed 20.86 that day. But lets say for the sake simplicity that you shorted the high of the day which was 20.98 Now Monday after the close you post you are "nicely" in profits? It closed 21.32 on Monday. How in the hell could you possibly be up in the trade after shorting 21.47 and again heavily at 20.98 or lower? :eek: But the sad thing is even if you were in the money 15 cents or whatever from the first short, you could have shorted any of the major ETF's and atleast you would be a couple of percent by now. Instead your probably gonna lose 3 full points on a 20 dollar stock. How's that long working out for ya? Ouch man. Did you bail or you giving it a 3 point stop too.