I am going to go into another short position as the last one worked and this one looks just as ripe as the last stock I took short. My short scans are continuing to increase in size and that means that the market is getting more and more dangerous as we go along. If the market bases a little longer and then breaks out to the upside, I am sure we will lose that gain in short possibilities. For now, the short side is starting to pick up a little bit of steam so I will not hesitate going short a stock that says “short me.” Still, keep it small, as the trend is still up on the overall indexes since the March lows.
new short position: FMC
FMC is breaking down below the 200 day moving average, closing near the LOD, after failing to even make it back to the 50 DMA in July, on strong volume with BOP going to the zero line. Cut your final loss with a close above the 50 day moving average, if the stock does not move lower immediately.
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