shorted FFIV risky but looking for pullback

[whodi]

Will have a tighter stoploss. Shorted at 35.60

[whodi]

covered half at average 34.97 for a gain of 63 cents recently

[whodi]

Here is a 5 day chart. Looking for some profit taking and a break of this very nice uptrend. Look at the 50 and 200 EMA's. Break of the 200 EMA would be the 1st real sign of any negative divergence of this nice run and then I would think there should be some profit taking.

http://finance.yahoo.com/echarts?s=F...urce=undefined

[whodi]

Originally Posted by whodi

covered half at average 34.97 for a gain of 63 cents recently

Covered the rest of my entire position at 34.70 for a gain of .90 cents. Was really aggressive on this short, so it made up for a lot of my loss a couple of days ago. Don't want to hold overnight but will watch tomorrow to see how it opens.

[whodi]

shorted more shares at an average of 35.14, looking at a stoploss around 35.50

[whodi]

Originally Posted by whodi

shorted more shares at an average of 35.14, looking at a stoploss around 35.50

Still in the short, Just an FYI.

[Goods]

Tried a short this morning and got stopped out again. The strength in this thing has been unreal! I played the last short all the way up to 34, thinking it's just defying logic not pulling back at all. Just dumb trading by me on this one. Keeps a brutha humble for sure.

Keeping an eye on it.

[whodi]

Originally Posted by Goods

Tried a short this morning and got stopped out again. The strength in this thing has been unreal! I played the last short all the way up to 34, thinking it's just defying logic not pulling back at all. Just dumb trading by me on this one. Keeps a brutha humble for sure.

Keeping an eye on it.

I hear ya, thats why I originally covered early because I said 34 woud be horrible like you said and I could just tell there was just to much power behind it and wanted to cut my losses then. It has slowed down a little, so I going to try and take an opportunity of possible pullback. I have made a good amount back on my other short because I was really aggressive with it and now will see what happens. If it starts to pop and looks to be running again I will cover ASAP and my go long short-term but IMO, there will be a pullback shortly and want to be all over it. Traders that were part of this run will take there profits and sell on any weakness especially if the market is garbage. Just like BVN, I posted about the huge downtrend and missed a couple of points of traders taking advantage of the oversell. I made some coin on it but not as much as I should of, really missed an easy opportunity and the worst part is I posted and had it on my chart.

[whodi]

since late monday, FFIV has been trading in a very tight 50 cent trading range for the most part. This is getting interesting. Its going to have a nice movement in one direction after this consolidation. Thinking its overbought but was wrong last time. That why my stoploss is tight on this short. Lets break that 200 EMA to the downside and bring some $$$ home.

Here is what I am looking at:



http://finance.yahoo.com/echarts?s=F...=FFIV;range=5d

[whodi]

FFIV is not looking healthy on the 5 day chart at 3pm, breakdown already.

http://finance.yahoo.com/echarts?s=F...urce=undefined

[whodi]

Originally Posted by whodi

shorted more shares at an average of 35.14, looking at a stoploss around 35.50

Added to my short this morning, average short today was 35.35 bringing total average to 35.25

[whodi]

bulls are definitely holding off a sell off. Stock has been trading in the same range since Monday and more importantly, the same tight range since Tuesday and is more on the downside. This is usually when u can get a nice drop because of these technicals or the opposite if it was more to the upside, which it isnt.

[whodi]

Starting to look like a good short fellas. Seeing short-term break out of this 5 day consolidation to the down side.

[whodi]

just got back from doing some work outside and going to the store. I put a stoploss on my FFIV short at 34.50 for 25% of my position before I left and saw everything was sold. Gain of 70 cents. I see it popped back to around 34.80ish, blows. I wanted to see FFIV stay below 34.50 at least on the garbage day.

[Goods]

I wish you luck Whodi. FFIV doesn't wanna follow the crowd at all. You'd think it's gotta give sometime. Hopefully not seeing a continuation flag. Least you pulled some cash out of it.