Seeking Alpha
  • Playing the Ponzi
    Momo's keep breaking down. Shorted LKND this morning. Add it to CMG and AAPL as momo market leaders continue showing weakness.
    4/23/12
    Reply (7)
    • OneLongTrade: I've been short LNKD from last week, and CMG as well. Not shorting AAPL here, could go both ways after earnings.
      4/23/12
    • OneLongTrade: I think CMG might be done for now as it bounced off that 50 day strongly.
      4/23/12
    • Playing the Ponzi: I closed my AAPL short on Friday, but would like re-open it on a little bounce. I'm holding my CMG short though I agree, there's support.
      4/23/12
    • OneLongTrade: Well my short term CMG target is reached at 410. Longer term I expect it to go down to $380-390. Will close my short around there.
      4/23/12
    • Playing the Ponzi: CMG is very close to testing the bottom trendline of a 6 year rising (bearish) wedge... a break of that and it's a long way down, imho.
      4/23/12
    • OneLongTrade: LNKD should have a lot more downside, ridiculous p/e. CRM too. I'm short both, pretty hefty in LNKD.
      4/23/12
    • Playing the Ponzi: Yes. I'm with you. Hoping to add to my LNKD short if it "kisses" the trendline it broke around $104.
      4/23/12