Biib is ripe for short. It has hit SMA200 on the weekly chart. The dialy pitch fork and trendlines are on this chart. The squeeze is negative. Wave C is below zero. Y would I not short this stock.. I am entering short with all I got...
Comments
Tom1trader
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Looks like it may have been a good trade! I love to play with indicators and they do help with expectations (but not forecasts). I tend to agree with the ones that say all of the information is in today's price so that - in a perfect world - the odds of price up or down are close to 50/50 such that stronger expectations often just mean a bigger surprise :-) . On the other hand traders are not perfect but just human so that the odds can swing? But then it seems like a question of: "Who is getting played?". So bottom line, I keep my bets uniformly small and try for best probabilities based on volatility and expected moves. Tempting to hang some ideas out like this as well, tend not to look back but maybe I should be. Keep smiling!