I wonder if Northman will ever wander around to this part of the Internet again, since he started this whole “occasional winner” thing. Anyway, here’s yet another one – – Micron getting blown to pieces (it’s one of my nearly 100 short positions). It’s my fondest wish that every stock on the board looks something like this in the months ahead. It’s payback time.
As a follow up to my earlier post about shorting Russia by way of symbol RSX – another occasional winner:
I start today with the same feeling that I had twenty-four hours ago: delight that crude oil continues to break down. My energy shorts, and most particularly my large Russian short (by way of RSX) require crude sinkage in order to thrive.
I’m most particularly pleased how “classic” crude has been behaving from a charting perspective. (I’ve been harping on this over at Slope Plus a lot). The shooting star, circled below, was a pitch-perfect reversal signal, as was the repulsion from the converging trendlines (tinted).