adriel.arrasmith
Short

SELL LNKD for $165 and More.

NYSE:LNKD   LINKEDIN CORP
As obviously noted before the market is due for a correction. The Dow Jones and the correlated USDJPY             are evidence of that. LNKD             is in a great spot to sell with a major head and shoulders in play, a completed shark pattern, MACD crossover, and break of the recent trendline . As far as fundamentals go LNKD             has been losing money all year with a market cap of $25 billion. Everything lines up for a sell targeting $165/$135. I would look to sell around $220 with a stop loss at $232. That is a minimum of 6:1 on this trade.
Trade closed: target reached: LNKD sold off 40% overnight and into today. Both of my targets were hit and we're now sitting around $110. The $110 - $120 area is huge support and also comes in around the 1.618 area of the last leg. This would be a great time to exit the position. Further, downside is possible, but after sucha strong sell off into key areas I think it would be wise to abandon ship. As far as buying LNKD I think it's not a wise move just because the market is going to get bad and I wouldn't want to be holding a company like this even though technically it could be a decent trade.
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