Broadcom Opportunity

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I haven’t placed a trade on Broadcom in a long time – years, I think – but I went ahead and shorted it today. It had a pretty staggering gap down, as you can see even on a graph this size, and there is a veritible mountain of overhead supply that will resist further upside price action. I’ve got a pretty tight stop on this one – 29.68 – and if this market is every permitted to go down for a single freakin’ day (which doesn’t seem to be the case), this chart would get a lot more interesting.