I mentioned the social media ETF (symbol SOCL) being a good short based on its Fibonacci retracement. Yep. See, this chart stuff actually does work from time to time.
I’ve read enough bad-mouthing about FireEye on Slope to take an interest in it, so two days ago, I shorted a meaningful amount. I knew earnings were coming up, and I was a little chagrined to see the stock pop up over 2% after hours Tuesday evening. Well, my concerns were unnecessary, as the chart reveals.. We are now in a market where piece o’crap stocks are actually allowed to keep plunging. (UPDATE: I wrote this post twenty-four hours ago, so it’s even less germane now, but all the same, I like the way this stock looks on the short side).