I first wrote about Fossil Group as a short nearly three years ago, when it was a triple-digit price. It has lost about 80% of its value since then, but besides pointing out this long-term downtrend, I also wanted to know that it seems after every one of these major smack-downs, there seems to be a recovery. This is a very, very sick stock, obviously, but at least take note of what happens when the stock sells off hard each time in the past.
I don’t think I ever traded a share of NVDA in my life until a few days ago (and I did this post). Nvidia came out with oh-my-Lord blowout earnings last week……..and the stocks been pooing all over itself ever since. I’ve tightened up the stop and am hanging on.
Since I did my “short gold” post for Slope Plus members on February 8th (which turned out to be the exact peak), I’ve been anxiously watching both the metal and its miners. So far, so good, and it’ll get even better if we can violate the $1210 level (approximately) to the downside, which I’ve tinted below. That would break the uptrend and give us more momentum.
Apparently selling stuff for 300% what you could pay it for at Ikea isn’t a great business model………not that I didn’t mention it before when the price was three times higher.
Well, it doesn’t happen that often these days, but when it does, it sure feels nice: one of my shorts got absolutely firebombed after the market closed today. Deckers Outdoor Corporation (symbol DECK), which I’ve touted repeatedly here on Slope and on my Tastytrade show as a great short idea, lost nearly a quarter of its value. Tomorrow should be quite the firestorm.
Here’s what the after hours trading looked like…….