Short Cathie Woods? Short

ARK Innovation ETFArca

Description

⋅ May 11, 2021 2:45 AM

ARKK has been steadily selling off since February

Selling volume was extremely above normal for the last few trading days

Also fell through 105 support which seems to have been strong in the past

I honestly see this falling back to the $65 range eventually but for now I would short this to $90 demand zone

If it loses daily demand, I am increasing my short position down to $65 by late June-July

Thank you

Comments

zAngus

⋅ May 11, 2021 3:59 AM

I got sick of watching my holdings keep getting eroded so sold them last night just before the NASDAQ dumped. Will wait for ARKs to get back up above their 20 day before I roll the dice again. Thanks for sharing your idea :)

stockmankam

⋅ May 13, 2021 12:13 AM

@Angusmck, wow good call on that one LOL! You certainly saved yourself from more hurt in my opinion haha Thank you again for the coins I really appreciate it!

JRSone

⋅ May 12, 2021 11:51 PM

Good call brother, are you sold-short, or short through derivatives? Puts are far too pricey at present, may be better to short and cover with an OTM call... Best of luck moving forward. 👍

stockmankam

⋅ May 13, 2021 12:16 AM

@JRSone, Usually I would just short shares but currently I am sticking with puts right now, I don't have a huge position in contracts but I am confident that this play will work out with time! Thank you for the feedback good luck to you aswell!