My previous short positions:
GMCR, AMZN, SBUX
Just to name a few, and we all know what happened to those stocks once they hit their highs. You can check on those message boards to verify my claims.
The reason I am successful shorting or going long is that I never hate a stock and I never fall on love with a stock.
The fact is that Disney has been up for 5 straight days for no good reason, sooner or later it will catch up to the market on the down side. It is also in overbought territory, it is at the top line of the bollinger band.
The bottom of the bollinger band is at $41.18 and that is my price target in the near term. I told people to short it when it hit $45.30 and then I also shorted at $45.60, at this point I am $495 out of the money. I will most likely get out around 43 dollars for a quick profit unless the market breaks down which means I might weight for the 41.18 price.
ALSO ENOUGH WITH THE NAME CALLING, ALL IDEAS WELCOME BUT NO NAME CALLING OR I WILL HIT THE IGNORE BUTTON.
Why are you bothering to dredge up old posts to respond to? Can't you just focus on the current Disney position? You seem to be out of rational discussion material if all you can do is trash old posters because of their stock strategies.
They will be monetising the PIXAR success with toys. Park prices will be tough to raise in future as they are approching $96. Having said that ESPN and slowly improving economy, lower gas prices will help, my target or perhaps hope $65 in 12 months.
I'm not a huge charts fan, but in with a persistent recessionary economy, high unemployment, the Joe Carter debacle, etc., DIS needs to fall back to reality before resuming any type of upward trend. I see $40 before $50, probably before the end of summer.
Long term trend, however, will be from lower left to upper right. I, personally, wouldn't open a long position anywhere north of $35.
Ok, let's try something constructive. How about the names of your loser's?? Hmmm? You do have some, don't you? I know I can list a few of my own, or are you always on the right side of the trade? I think 22/34 analysts that cover DIS have ALL raised their outlook for the coming quarters and Years ending 2012 and 2013. I bought DIS at around $32 and at that time I had it at $49.00 fair value, in light of recent developments I can see $57 in the near term, all the time collecting a nice divy while I wait. So,tell me why DIS is a good short? it's not due to earnings, their going to soar, so let's hear from you, constuctively.
I have no long term view on DIS, but in the short term it is due for a pull back I have proven myself but giving out the prices I have shorted. I got out today at 44 dollars after shorting yesterday at 44.55(as I told everybody yesterday) . You can read my other posts. Have I ever had any losers? Of course I have, but usually I sell options against my shorts while I wait for it to go my way. I don't hate any stocks or love any stocks, I simply try to make money in either direction. Right now I own June 65 puts on WMT simply because it has been up 5 days in a row and the RSI is well over 70 on WMT. Plus it needs to fill the gap between 59 and 61. I also believe the market is gonna drop more and take all the Dow stocks down with it. Compared to the rest of the DOW 30, WMT is the most overbought right now.
i agree with you totally teen girl seems to be the warren buffet of market timers while constantly trying to talk down disney stock. i have owned disney since 1988 anyone who thinks they can time the market or a stock with charts and win is playing a muggs game. we will never here of any losers from him or her whatever these type of posters like to impress with their comments on bollinger bands and rsi stochastic charts etc. legends in their own mind
How are the longs doing? So far pretty good compared to the rest of the market. I am surprised that DIS has held up as well as it did, even though it dropped over 2 dollars for the high to the low. I did get out a little too soon at 43.80( I could have made another .3 cents), but that was a good profit. I shorted again today at $44.55, if the 10 day moving average heads down as I expect and crosses the 20 day moving average in the next few days, this will make me a good profit. I also bought June WMT 65 puts which is as overbought as DIS was above 45.
yeah u got out 3 cents from the bottom give us a break already. you have zero knowledge of the movie business and you said in your earlier post you were shorting because disney was going to drop to 41. what a bunch of crap. you pick 41 and s cover at 43.80 why
The Dow is down over 800 points from it's recent high while DIS is up 4 percent since that high. All stocks ultimately catch up to the market in either direction. DIS will have to drop 4 dollars from here just to catch up to the downdraft.
I can guarantee for the next two days it won't hit 43 dollars. If you add in the perception calculation model, tomorrow is another up day followed by a slight increase or drop on Tuesday, but it will not hit 43.00 The avenger headline on Monday, justify for another up day. It may be overbought in your case, but the disney story is not over yet.
1. People already bought the rumor, now they will sell the news.
2. It's been up 5 straight days.
3. The news that the CEO sold most of his shares at the top. He sold 1.8 million shares and he now has 1.14, that's over 60 percent. That's not diversification, that's bailing out at the top.
I do appreciate your well thought out response, but I simply disagree as to where this stock is heading over the near term.