One of the few bright spots for me today was Fossil Group, on which I was both short the stock and long the puts (January $110). Looking at the long-term chart, I hope it’s clear why I was enthusiastically short this stock, since there’s really nothing but empty air beneath former support……….
Zooming in closer, you can see the price dropping beneath and important shelf of support. I am holding on to both my equity and my options positions, since I think much lower prices are on the way (particularly considering how the market in general is still as nosebleed levels).
