anyone have any good thoughts on when to cover, I shorted at 124, i am thinking in the mid 80's. i was going to cover today but with significant trend down over the last two hours that continued into the close it made me fairly certain that this has more downside, just not sure how much. It seems you would be crazy to buy at this point, but I am nervous that shorts may keep covering and keep the stock elevated. I think short covering is what caused the pop up from 90 but I am interested to hear other thoughts. Anyone have a good reason why I should cover now? Is there a catalyst or bright side to the stock I am missing? anyone agree with waiting to cover till mid 80's?
I would say you need to plan your trade before you get into it, then you would know when to cover. At times this stock is volotile and can go crazy in both directions. I see a trend because I have traded it for 3 months off and on. Know a teeny bit about how it reacts and to what, "sometimes."
If you have a nice profit and don't know what to do, take it until you figure out what you want to do. I covered first thing this am, went short again on the bounce and covered again before the close. Nice day...
keep your short because analysts have yet to even notice DE's entry into irrigation.. I only read about it over the weekend and today I see they purchased an irrigation company from isreal.. you know how smart those guys are.. DE is going to take the entire irrigation business away from VMI and LNN, no wonder the CEO sold..
I'd say it has turned from a technical trade (double top) to a fundamental trade.. look for this thing to test its 200dma at least and likely break it and trade back into the 50s-60s within the next year..