I decided to pull some different stocks off my head and look at. If you have some you want me to give me opinion on just ask.
TSLA – Tesla
No one wanted to buy this at 180, or 200, or 210, or 220. But EVERYONE wants it at 245. Sentiment is a crazy thing. I am not saying short this but the risk:reward up here buying long is not very good.
GS – Goldman Sachs
I have an open short in $GS posted here and ,my target is under 220. We should get that in the coming weeks.
BAC – Bank of America
Also down. I have an open short idea on this here as well I pretty much called the banks coming down the past couple weeks and missed it by 4 days. Now anyone who has been watching TV and bought since Dec 8th are underwater. Target is under 21, maybe 20 and then I will reassess.
AGN – Allergan
This was one of my favorite stocks heading into 2017 in one of my favorite sectors (Biotech and Pharma) However if the market should rollover and IBB continues lower as I said to watch in the weekly closing prints then this does not look as good. As long as aGN holds 208 it should be fine, below that is more vulnerable.
FB – Facebook
I was WRONG on FB. It held like a champ. It dropped the 200 day MA and reclaimed it with vengeance. I am still not sold we do not see below 100 in 2017 however I cut my short with a small loss and will reassess. Right now I am not shorting this. The new money that came into tech may be in trouble if things turn sour.
WMT – Walmart
Just looks absolutely gross, like much of retail. Get out of the way. This is going to 62.50 and then probably lower.