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tslatrades
Jul 2, 2022 5:22 PM

COST 

Costco Wholesale CorporationNASDAQ

Description

Costco is one i've been watching. The close before the long weekend was ideal if you entered short once again underneath this yellow trendline.

An overshoot to 508-510 is still possibly in play and that's where i'd be looking to start a longer dated short position or even sell out of the position if we get to that target.

Costco is a very strong company don't get it wrong. This is a stock i'd buy in my retirement account at nearly all support lvls below 480.
Comments
ShortSeller76
What strike and expiration?
tslatrades
@ShortSeller76 look to start entering within the next sessions, this was too early and was a difficult short so far
Shortit76
@nickwhitford, agreed. Many of these went much further than anticipated! Bear market rallies do that gL
tslatrades
@Shortit76, there still may be some steam left in these bad boys too sadly. that's why only starter position for the next wave down for now.
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