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Another chart I’ve cited as an intriguing short idea is AutoNation, which is down a bit more than 2% today. I think we’ve got a clean triple top on our hands.
On a wholly separate note, here’s the S-1 for hotly-anticipated IPO Snap, Inc. They lost over half a billion dollars on $400 million in revenue, which is quite a feat. And yet people cannot wait to buy into the disappearing dick-pics champion.
In spite of all the excitement regarding AMZN’s huge tumble after hours, the fact is that support has firmly held, and folks were simply able to buy in this morning at a good price in the context of AMZN’s long-term uptrend. There’s nothing bearish to see here.
Well, it doesn’t happen that often these days, but when it does, it sure feels nice: one of my shorts got absolutely firebombed after the market closed today. Deckers Outdoor Corporation (symbol DECK), which I’ve touted repeatedly here on Slope and on my Tastytrade show as a great short idea, lost nearly a quarter of its value. Tomorrow should be quite the firestorm.
Here’s what the after hours trading looked like…….
