albert.callisto
Short

Shorting after bullish peak on ROVI CORP

NASDAQ:ROVI   ROVI CORP
41 1 1
Experimental...

Idea came up by reading this article:
http://jbmarwood.com/strategy-shorting-shares/

By applying screening with Finviz and proposed criterias, you end up with a dozen stocks.
http://finviz.com/screener.ashx?v=111&f=sh_avgvol_o500,sh_price_u20,ta_perf_1w30o&ft=4
I picked one of them, ROVI             was among other candidates (I also chose MEMP). ROVI             renewed a license agreement with AT&T             .

Article focuses on volume and gives some hints:

The best strategy I have found for shorting stocks is to look for companies that have had a significant run-up on heavy volume and then short them when they are extremely overbought. (...) Volume should also spike significantly higher on the upward move.


Fibo shows key levels: pivot and 0.382. Resistance around 16.00 level. Expectation is a retracement from C, until the pivot is reached (first TP), second TP could be at a deeper layer at 0.618. The first A/B/C forms a perfect triangle with B right in the middle.
Order cancelled
Initial idea failed, retracement was not confirmed
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