I Started my short position Today @52.69 after hour, it will go Higher this week, and I have dry powder to average up, But I feel good about my short here. It should retest under $50 this week.
nothing goes stright up, not even this one.
why do you want to short a stock that has just had a powerful move up? just cuz what moves up must come down? the oil service industry is beginning a strong 3 year up cycle and RIG has a 30B backlog. dont be stupid.
This has been down so long, it had to come up. We are in the 47 to 55 range now. No going back without major catalyst. Short for how long, always money in quick trading no matter which you play. Long term plays are riskier.