IF GMCR is unable to get back above the 82.40 undercut low of yesterday (Oct 4th low), then our price target for the stock on the downside is at the 200-dma around 74-75.
FOSL is breaking down now off the potential peak of a right shoulder within an overall head and shoulders top. Our downside objective is the 73.01 October 4th low.
BIDU has busted back below its 50-dma on heavy volume and our downside target there is the September 30th low at 100.95.
Depending on your own objectives for the trades, you can take profits earlier or play for an even larger downside move if we go into a new leg down in an overall bear market. Other profit objectives can be a simple 15-20% profit, or a 20-25% profit, depending on how "greedy" you want to try and be. But remember, bulls make money, bears make money, and, particularly on the short side, pigs get slaughtered.
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