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Tuesday, November 19, 2013

FB


Normally I post breakout charts after the close, but I am seeing a lot of this: formerly leading stocks that are on the verge of breaking down, and ripe for short positions. I shorted FB last week, but got in too early and got out too early: it did exactly what a stock I look for to short is supposed to do, just not when I thought it would do it. It is now in a position where I can short it again: a close below 45.72 will probably seal the doom for this one. There are a lot of stocks in the same group that look nearly identical, so this is shaping up to be a target rich environment for bears.

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