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Chief Market Strategist Gareth Soloway has been an avid swing and day trader since his days at Binghamton University where he studied Economics. After college, Gareth quickly excelled as a financial advisor, helping clients get their financial houses in order. While helping others gain financial... More
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  • Twitter Inc Tumbles But Is Near A Major Bottom 0 comments
    May 6, 2014 12:26 PM | about stocks: TWTR

    I shorted Twitter Inc (NYSE:TWTR) $70.35 earlier this year. I did so because there was total euphoria, greed and every other adjective to describe investors buying without any worry in the world. It was an obvious top. Today, Twitter Inc is trading at $34.43 - 4.32 (-11.15%). Amazing drop from its highs. As panic sets in, I am starting to find the stock very attractive. The panic selling today is telling me it is getting close to a near term bottom. I stress 'close', as it still should go a little further to the downside. Ultimately, I am looking at the $32.75 area with a small possibility of buying more on a break of $30.00. This range is extremely high reward and could be seen this week. When investors and the media bash and spread fear, smart investors get very interested in buying a stock like Twitter Inc.

    Gareth Soloway

    Stocks: TWTR
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