Another occasional winner, folks! And this one is a doozy.
In my video to everyone from Sunday, Santa Claws Part 3, one of my short ideas was IMGN (by chance, it happens to be the thumbnail image of the video). It lost half its value this morning, even though, as the geniuses at CNBC might say, it is “off the lows”. Still, this is the kind of short position that is oh-so-sweet when it works:
Enough time has passed that I wanted to mention an idea I gave my Slope Plus subscribers back on November 21st. I wrote, in part, “USO did a perfect gap-fill at 29.08. I shorted some crude oil right here, since this is an extremely clean stop.” My stop was too tight (by a few pennies), but my readers have been warned of that many times, so I re-entered the short afterward. In any case, the gap is noted with the green arrow, and the post was written at the red arrow.
Even I remain stunned how far, and how fast, crude oil is collapsing. The prospect of oil heading to, say, $35 per barrel seems totally plausible to me. At least we have one unmanipulated market that illustrates that, under the fake surface, the world economy isn’t doing so hot.
I’ve been suggesting shorting Russia over and over and over again. Nice to see it falling completely to pieces……(first short idea marked with the green arrow):