A reader just made me aware of a perfect shorting opportunity in CEL. Now would actually be a perfect time to enter a short position to be held for at least 3-5 days. Using the 50-day MA as a guide, the pullbacks into resistance are orderly and predictable. The highest likely move for CEL is down. No long positions please.
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2 comments:
John, I am thinking of moving into either DXD/DOG or SH/SDS after the next rally. Thanks for your thoughts...J
I like DXD and DSD because the volume is high, very liquid. So far, the market looks like it will gap down 1-1.5% in the morning.
However, any major intraday reversal on high volume will mark capitulation and a bounce will be underway. At that moment, all shorts must be switched out to long positions.
Monday or Tuesday could be that day. who knows.
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