So, I guess I'm short DDRX 50 shares at $16. I had reserved 50 shares of DDRX to short at $16 a few days ago, not thinking it would hit $16 since it had been channeling sideways for a couple days. My plan was to short when the channel finally broke down. Now, I dont know if I have been blessed with this higher entry, or screwed.
I'm a little afraid that this stock could squeeze some more. There is no reason to short here at $16. It is just making yet another high. The RSI, and the volume are downtrending yet this stock keeps breaking out. I've never seen anything like it. I'd be happy to cover around the $13-$14 area, but I might cut my losses if this thing hits $17.
No comments:
Post a Comment