As I make my way to Copenhagen, I wanted to offer up a post with enough charts to allay my blogger’s guilty for a good long while, because Wednesday is going to be largely “shot” for me. I’ve got a ton of short positions, but I decided to hone in on my favorite sector now, which is retail. Here are y sixteen live short positions, courtesy of SlopeCharts:
I’ve been talking a lot about retail shorts lately, so I’ll share some more now. First up is American Eagle Outfitters, having collapsed beneath a symmetric triangle and recovered back to its failed underside.
Even though the market was bug-eyed bullish on Friday, roaring to highs never before seen in the history of humanity, retail continues to crumble. Macy’s, already down about 70% from its peak, fell nearly 8% on Friday alone. The scary thing is that if the analog I’ve pointed out dozens of times actually comes through, it’s just going to keep spiraling toward, well, $0.