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Short-Sale Set Up - Update 6-21-16

Yesterday's rally merely served to bring stocks for which we have recently discussed as short-sale candidates back into shortable range.

AAPL, GOOGL, NFLX, and TSLA all opened up yesterday an rallied into areas of potential overhead resistance before reversing close near their lows for the day. Both NFLX and TSLA reversed at their 20-day moving averages (200-day also for TSLA), while GOOGL retraced a portion of last Friday's big downside dive and AAPL remained within its current bear flag without rallying any significant amount during the day. These stocks' persistent weakness likely indicates they will move lower should the general market weaken again, and we would continue to use rallies into areas of overhead resistance as opportunities to short the stocks.

FB is also now acting like a late-stage failed-base set-up now that it has breached its 50-day moving average and is now in a five-day bear flag as it "lives" beneath its 50-day line. We believe any rallies up towards the line at 115.80 would offer optimal short-sale opportunities, although the stock is currently within 2% of the line thus could be considered to be within shortable range at current prices.

This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
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