Although the market in general has been steadily making never-before-seen highs this year, I have been doing pretty well with my nothing-but-shorts trading. A few sectors of special concentration for me have been energy, financials, and retail.
This last one in particular did nicely for me today, as a variety of shorts were smashed by Macy’s. Looking at the big ETF retail fund below, you can see the topping pattern is still forming, although there is a pattern-within-a-pattern tinted in green that’s very close to failing.
Looking closer, you can see a clear-as-glass example of a massive head and shoulders pattern. I haven’t covered a single short in retail, and I look forward to much greater gains.
In fact, Monday morning my first post of the trading day suggested to Short Dicks, and, well, that turned out quite nicely.
I’m going to go into a much more detail with my Slope Plus readers now, but those are my basic thoughts.
