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I went short Ford here at $14.91, with a cover-stop above $15.80. I am playing for breakdown on all timeframes.
With retail sales slumping, and big ticket-related items like homebuilders getting hit hard, too, I think going after the large auto-maker makes sense.
In addition, the technicals are there to take a shot on the short side.
Ford has been consolidating for several months now in the context of a corrective pattern, with a declining 200-day moving average above price.
I am playing for that pennant to resolve lower yet. And the "pinched" Bollinger Bands likely presage a large directional move is imminent again.
Either way, I will cover before January 29th earnings.
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