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  1. Default High Probability Shorts to Initiate

    Of the four or five hundred usual suspects that I follow on a regular basis, the following four names represent the highest probability short entries for this week. I'll save the detailed descriptions for each as the set-up for all is very similar. These names are showing signs of weakness and are now retesting areas where selling was either initiated or getting ready for a second leg lower.

    CAR (Short/52.4 Stop)
    FAST (Short/52.4 Stop)
    BKS (Short/22 Stop)
    CCI (Short/75.6 Stop)

    If you are unable to initiate short positions then consider buying out-of-the money puts in the forward month.

  2. Default

    Disclaimer: The following was posted on April 16th on our FB page:
    Yesterday I posted CAR (Short/52.4Stop). I apologize for the colossal error. The short I meant to post was KMX (Short/52.4 Stop). I don't know where my head was yesterday. KMX is the symbol for CarMax Inc. Instead of posting KMX is posted CAR which is AVIS Budget. Again, sorry for the dyslexia.

  3. Default

    What's your rationale for buying out of the money puts?

  4. Default

    My outlook for the names is negative for the foreseeable future. OTM puts are a good way to capitalize on the downside for a small premium.

 

 

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