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It's Time To Short

ByTim Knight
Published 02/15/2018, 01:21 PM
Updated 07/09/2023, 06:31 AM

I’m starting to think it’s safe to go in the water again. I said a number of times that I would be interested in shorting again if the Dow got to “the low 25000s.” It got up to about 25,200 Thursday morning, so I started shorting again, rather aggressively, including buying IWM puts. As for one specific idea, here’s chemical maker FMC:

FMC Corporation

Besides having broken a major supporting trendline, it also features a very clean topping pattern with a squeaky-clean stop-loss price.

FMC Corporation

Latest comments

you're right, all the indexes have a drop of 32.3% from the top, we have a correction lasting at least 6 months
Howz that short working out? Lol
Tim I like it. You and Peter Schiff should get together :P
 arent you long from like dow 27000? better pray powell comes to the rescue
 you, of all peeps, well know my asset base. or, at least a thumbnail sketch. i don't favor metals and have stacks of silver i can only give away. fell for the marketing scam in the 70's. how one makes money with metals is buy the mine, extract for cheap, and market to willing takers who really feel it has transit value if a purge comes. of course, that's a joke and the bedrock of the scam. if you want ranches, cattle, and snow bunnies, you don't do it with metals. dow, 27k, that's funny. what was the dow in '63, and '73. bought my fav sector last week in the dips and that is gone except for cores. if nothing else, you better read rich dad...buzz off.
There's only one game in town. Long FAANG. Full stop. No more need for fund managers. Scratch those silly lines on charts. Forget bank accounts. Put your shirt on FAANG. They'll give you minimum 1% a day as sure as the Sun will rise tomorrow.
According to Tim it's always a good time too short. Still hasn't learned you shouldn't fight the trend.
TP @ 63?
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