Man, haven't been playing this one as smart as I should've. Been getting burned trying to short time and time again.. Pretty much have given up on all gains I have made on MSFT thus far.
Looking at this pitchfork you will see a continuous test of the middle trend line with a rejection. Lower trend levels act as supports. I still think in the real world a short is in order here, but I dont feel like we are in a normal world.
Still holding a few shorts at 200 strike expiring end of this month.. Will give them to the end of this week to decide if its time to bail or not..
IMHO, shorting MSFT now is like swimming against the current -- this is a stock that doubled in 2 years and the company is finding new growth space -- better just ride along -- close the shorts and just buy few stocks and forget about them for few weeks and you may be happily surprised :) -- this is what i did.
lordofthebags
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@RedKTrader, would not advise against shorting the only major tech stock that has an attractive P/E and the highest equity rating on the planet lol
RedKTrader
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@lordofthebags, you wouldn't ? so you actually suggest that the right play is to short MSFT ? or did i misread your comment? in all cases, it's totally up to you :)
lordofthebags
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@RedKTrader, no I would not short MSFT lol... I'm only buying puts on retail, travel and hospitality going into H2 :)