Surprise, surprise, the stock I gave as an early short is now setting up in a better short pattern. While the moving averages are not perfectly aligned with the 50 day moving average below the 200 day moving average, we still have a very low risk/high reward setup for a short position and this looks to be a good short to dip my account toes into. I also have two early short positions for Platinum subscribers so make sure you check those two out on the forums. This stock does have a previous 100% move in it from the lows to the current short point, is failing at one moving average while closing below another, and does have negative BOP. I would rather see red BOP and it fail the 200 and close below the 50 but whatever.
new short position: PTV
PTV is failing at the 50 day moving average and is closing below the 200 day moving average, closing near the LOD, on very strong volume and negative BOP. Cut your final loss with a close above the 50 day moving average, if the stock does not move lower immediately.
