We're noticing that Alphabet (GOOGL) is rallying up into its 20-dema. In a late-stage failure, stocks can ofrten rally back up through the 50-dma and then run into resistance at the 20-dema. This could be the case with GOOGL. Also, Tesla (TSLA), which we first discussed as a short on the news rally into the mid-320 price level after the company unviled its electric semi-truck, is rallying into its 10-dma. This or the 20-dema could represent near-term overhead resistance. Again,. the five-minute "620" intraday chart is a handy tool with respect to timing short-sale entries. Short-sale set-ups are not guaranteed to work, and the 620 chart is a good reference tool that helps keep one stay out of severe trouble if things don't work right away. Short-selling requires persistence and nimble feet to be successful.
Read "Short-Selling with the O'Neil Disciples" to understand the general principles and approach we implement on the short side. Gil also goes into more detail on more current, updated, and improved techniques he uses to sell-short in this current, nutty QE-infused environment in our weekly live webinar series.
Short-Sale Set Up - More Big-Stock in Position
|Published:||6 Dec 2017 12:40 ET|
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