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$259.50 is next.
Obviously, $260 will be "resistance" for a while.
$259.50, $260 are history.
Replace wit $249.50 and $250 for this week.
Next week lower by another $10-15.
And so on....
Sentiment: Strong Sell
Are shorts in trouble?
Yes I am in trouble. I didn't cover my shorts from above until it got up to 257.75. I was hoping this would rise solidly into the low to mid $260's. Looks like the opposite is happening now.
Remember all of the analysts raising price targets last week after that terrible earnings report and terrible guidance.
Those are the same folks trying to unload the bag on bigger fools. You trust those guys?
Buyer beware, but if you insist on bidding it up on no substantial good fundamental news I'll be more than happy to counter the bigger fools and borrow their shares.
I'll also be more than happy to have them sold to me lower so that I may cover, even though that person will probably be slightly less of a bigger fool than the guy I borrow them from.
Remember, they'll love it until they hate it.