10Mar3:25 pmEST
Playing for Lowe's to Make Lows for a Change; Chess Moves
I went short LOW at $73.32 with a cover-stop over $76. I am looking to swing the home retail giant and am playing for 20-day moving average to break down.
The three-headed home retail giants of HD LOW SHW have been on multi-year tears. But I suspect those steep long-term trends are ripe to be correct themselves.
On the weekly chart, below, note the steep ascent of the advance, followed by "doji" candlesticks in recent weeks indicating indecision. While not conclusive of a top, I am playing for this indecision to mean that buyers are slowly losing control of the action.
After taking partial profits in my FB LVS UAL shorts today, I am currently long SRS and Short CAT CMG FB LOW UAL.
See you after the bell for my video market recap.
Covering Up for Privacy on F... Stock Market Recap 03/10/15 ...