Re: CMG. I think selling short against the HIGHEST MONTHLY LOW (April's) should provide a low-risk entry level. Notice that is also where there are 4-months of trading action (March, April, May, June) which should represent excellent supply and resistance to price advances. The target could be down around $360, just above the red-dashed line you have labeled. That price represents the low of the last 6 months and a natural level for bottom fishers to come in or short sellers to cover positions.