Stinky MNKy

Broke bear flag and support, target $16

Comment:

Their main product, Achtar, is a scam. Do your own due diligence, this stock should have stayed at $12 (or lower). Might find some support at $18 then $16 though.

Comment:

Up or down market, you can;t lose by shorting crappy companies. If my followers have any ideas on crappy stocks, please let me know. Always looking for new ideas.

Trade closed manually:

Flipped all my puts since I'm expecting a market bounce. MNK might go down anyways since it's such a crappy company.

Trade active:

Couldn't find much else to short today, got to short any pops on this garbage, already gave up today's gain.

There might be a rally after the Fed announcement, this garbage won't participate.

Comment:

If you can't figure out which way the market is going to go, best bet is to short crappy companies. I might just ride this until Jan expiration. Zero chance this goes up in a bear market.

Comment:

LOL, it followed the line exactly. At this point you're all well in the money on your puts. You might as well hold them until expiration or $12, whichever comes sooner.

Congrats to anyone else who bought puts.

Trade closed: target reached:

It hit my original $16 target (following my exact line!), market looks poised to bounce. Despite being a complete garbage company, this stock did manage to bounce in this area earlier this year. Closing Jan puts, I would hold if I had longer expiration. Final target is $12.

Portfolio is all cash now for X-mas. Merry Xmas.

Trade active:

Bought some puts yesterday, added this morning.

When in doubt, short garbage.

Trade closed manually:

Flipped the puts on open, re-enter if this thing goes over $17.

Trade active:

Grabbed some Feb puts at $17. When in doubt, short garbage.

Trade active:

Took a little off the table now that it's caught up with the market. Sure looks like it's headed down tomorrow though....