zsteve: re: "time to cover my amat short?"
Before yesterday, I would have said that AMAT was in a narrow trading range, 22.5 to 26. That's too narrow a range for a wild and crazy stock like AMAT, so it was bound to break up or down soon, out of its too-narrow constraints. Before yesterday, I would have guessed that it would extend its trading range lower. However, yesterday and today it has slid smoothly, on not-high volume, without having to try repeatedly, above 26.
So, you need to nervously ask yourself, where is resistance? 26? 32? 40? 54? My best guess is 32, now that the stock has nudged above 26. If I were you, I'd short more in increments up to 32, cover at 34 if it goes that high. Otherwise, cover when the stock bounces again at 22.5 |
