Marketsurfer says short shake shack

I am very grateful! I made a lot of money fading his index calls.

 

Surf, this is a trading website. People are looking for more exact timing. Such is the nature of the beast called man.

 

http://www.businessinsider.com/we-t...hicken-sandwich--and-it-was-incredible-2015-7

We tried Shake Shack's new chicken sandwich — here's the verdict....

Our verdict? Delicious. We finished every last bite.

 

The sandwich may be ok but just look a thise hideous french fries. Looks like fries made by middle school lunch ladies in a toaster oven. after buying a frozen bag from cost co. Just terrible!

Its too late to save this company now.

surf

 

Man, Shack Shake could continue to sell burgers with or without chicken for decades.
Maybe it is time to take your profits ?
You wait for a first target @ 50 dollars? But now, we are already in a strong support. See graph.
At the end of January, former resistance was 52.5. Yesterday, support was 52.5.
Coincidence? I don't think so.
SS could (again) shake you for any reason.

CM

 

MS, Congrats on this trade.
I suspect many would fail to re enter after getting smacked around.

 

Thanks! We are very convinced of the short thesis despite the short term move higher.

 

You don't really believe the chart delusion, do you?

 

Charts and technical analysis are great tools to understand price action and visualize scenarios.
Of course, they are not necessary to make money, cf Warren Buffet, Jim Rogers, George Soros..
At the same time, Paul Tudor Jones and Marty Schwartz made fortunes too, thanks to charts.
If you make money without them, fine. Markets offer enough opportunities for everyone, you just need to find your own way/style and develop your competitive edge.

CM

 

Yes, when used in context, charts can serve the purpose of framing the market.

However, i don't think there is any evidence of support lines or resistance points offering any edge.

peace, surf