The collision of global markets and social mood

Wednesday, January 16, 2013

SAM As A Short Candidate

It's got all the indications: a nearly complete Fibonacci structure, struggling daily volume (just over 30,000 shares at 12 noon EST), a P/E radio 130% above the industry average, and mass market TV ads like this:




I love seeing a CEO covered in beer head to toe with his stock price in the clouds. Others do too. The open interest on March 110 puts is suggesting that the big gap from 114.23 wants to get closed.



I want to see SAM above 142.50 on less than 305,000 shares (preferably hitting the Fib extension target at 145.26) to initiate a short targeting 114.23.


No comments:

Post a Comment