Micron – – a stock I’ve mentioned repeatedly on tastytrade and here as a great short – – is falling double-digits percentage points right now.
Slope of Hope Blog Posts
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Ultimately, I think “Funding Secured” is going to be inducted into the pantheon of epicly embarrassing statements, sort of like “Mission Accomplished” or “New Coke“. Tesla is one of my 57 shorts, and is quite profitable. The company has come full circle since July 28th, having round-tripped the entire price. The poor souls who thought they were going to get an easy $420 by buying into TSLA had suffered a 25% loss in a mere three weeks’ time.
Given the success of recent picks lately (DLTR, BIG, TROX) I wanted to share another intriguing short setup, which is Acadia Pharmaceuticals. Its topping pattern right now seems to mirror perfectly its basing pattern from years ago. I anticipate much lower prices in the months ahead. Apparently their big product is a drug that combats hallucinations. This market could sure use some of those pills.
Today was a bit strange for me at the opening bell, because of three circumstances that normally shouldn’t be side-by-side (1) I was totally short (2) the market was roaring higher (3) I was showing a healthy profit. Indeed, as I’m typing this very words, the NQ is green, the ES is green, indexes are at highs never before seen in the history of mankind, and yet I’m showing a good profit. Perhaps this is what is giving me the confidence to pile on eight more shorts, which I just did, and they are as follows: