This is what I've been looking at this week, made 5k shorting this garbage on a kicks and giggles trade. I told everyone it's headed to $20 support, it touched it and bounced up quickly. That's why I closed out at $20.25, didn't think the extra 25 cents was worth it.
Probably should've bought calls at support, lol. Decided I want to be cash this weekend. Besides, no guarantee support will hold, this company is headed downhill. It needs to get rid of the oversold condition on the hourly chart though.
Plotting since I have time now, just to show my followers what I was looking at. No position.
Comment
⋅
Looking like there's a possibility it might lose support, no follow through
Comment
⋅
Looks like it's gonna finish at my $20 target today, lol. Options breakpoint.
plus it makes everyone wonder if it's gonna regain support or not....
@markrobertson67, right? SFIXing it's way to single digits, wish I had held the puts all week. I made 5k shorting it last week, moved on to other stuff, glad I didn;t go long.
markrobertson67
⋅
@hungry_hippo, I just knew this was tending towards zero from day 1. I never bought puts though. I have some now but i missed all the fun. Need to find a new junky hyped up stock to short. I'm expecting PTON to be out of business within 5 years.
hungry_hippo
⋅
@markrobertson67, the problem is that even garbage stocks don't head straight down, you have to time it. I expected a bigger bounce off that support.
I made the right call last week to short garbage stocks the day after NFLX missed because it was going to put pressure on all money losing stocks.
The only thing you can do is to improve your odds by shorting garbage stocks on days you expect the market to go down. That is my general operating principle, I chart futures on a daily basis and post for my followers.
This week I made money shorting AFRM. They all move the same anyways, just some more than others.
markrobertson67
⋅
@hungry_hippo, looking at a 5 year graph of NASDAQ, looks like this is the beginning of a severe crash.