Long OSTK, contrarian swing, 2 week time frame

3 เม.ย. 2018

Traders are overwhelming Bearish and shorting OSTK. Great profits have been made and today borrow costs were again increased. I believe a near term bottom is in sight, as the stock has trade to technically oversold levels as measured by RSI. Should Crypto's rally significantly, or ICO investigation is completed, or e-commerce biz is sold, shares will trade materially higher as shorts buy shares to cover. This is a contrarian idea, as momentum and setiment remains strongly bearish. PT is 40, time frame is 2 weeks. Stop loss is down 7% or $29.29

Good Luck Trading.

7 เม.ย. 2018

บันทึก

Trade is still live, April 4th proved to be a strong Bullish reversal candle. As volume decreased, some shorts were inclined to cover, as prices rose. With Hughes moving to De Soto, and the hiring of a new CFO from Apollo, it looks like the management team is still attracting talent and gaining traction with their transition. News on the ICO or clearing t0 of the SEC investigation will move or selling the retail biz will likely move the stock much higher.

Overall, I still like the set up, though closing above $37 would have been a better formation. In friday's trade, it still was a meaningful spread over the sector and Russell.

Good Luck Trading.

12 เม.ย. 2018

บันทึก

almost to $40 buck today on the tailcoats of the rally in Cryptos! Will exit 1/2 the position at $40 and keep the rest of shares for the long haul. This thing can GO ALOT HIGHER LONGER TERM IF SHORTS GET TRAPPED, WHICH MAY BE UNFOLDING. STAY TUNED!!

LONG OSTK

Good Luck Trading.

13 เม.ย. 2018

บันทึก

As described yesterday, sold 1/2 my position at $40.05 this morning, and am still long the other half from the low 32s.

Good Luck Trading.