So the question is, where are the buyers? ...MIA.CNW made a new 52W low so I had to cut it. The lesson from this loser is that it was a fibonacci level 1 day bounce trade and the party ended there. I should of known that's what would happen since the angle of the multi-week sell is so steep:
And Since I expect even lower prices next week, BBY broke a good support level and would be a good short on a bounce back up to this level:
I originally got the idea to short BBY from the great Howard Lindzon, who hates them. hehe.Over 25.25 is my entry target and my exit depends on how bearish next week gets - the more bearish, the lower the support level to pick from.
I shorted some SPY afterhours to remain partially hedged.
BVN almost broke the 50EMA and that was my stop if it closed below, so it was an intense close.
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