Looks like a good risk reward ANF and AEOS are both very close to there 52wk highs and are way overbought. Both look great on the short side. ANF is hitting strong resistance in the 71-72 range im suprised this stock is still in the 70s espically with the sharp runup and the lingering problems in our economy which will hit consumer goods espically hard. With the gas prices staying steady or going up from here and the housing bubble going into full swing, no one is going to have the extra money to buy a $120 pair of jeans ::). The teen apparael is a saturated market right now with fierce competition and lowering margins. Techincally and fundmanetally I think these two stocks are easy profits shorting at these levels. RSI and MACD both show overbought conditions. Cover target range 55-65.
Thanx Nulz, And lets continue to give credit to shortstocks.com Hopefully these will play out to the down-side, despite Crammers bullishness on ANF
cheers Joe
Yes shortstocks focused these stocks and sector to short. I believe there call is 100% in line and will be profitable.
Good finds nullzero...I applaud you... :) But i just consider ANF and not AEOS....Overbought and oversold are two relative concept. As you says ANF is near a great resistance and a low-risk entry is possible :
Close at 70.74
stop-loss at 72.33
Target at 65
Reward/Risk ratio of 8.8 / 2.24 = 3.66...
AEOS is more risky...No resistance since more than two years...But if you make a short position here is my strategy :
Entry price : 44.55
Stop-loss at 45.85
Target at 38.10 (near the gap and 50%retracement)
Reward/Risk ratio of 16.9 / 2.9 = 5.8...
Have a good day
Looks like the short side is prevailing now. Both ANF and AEOS have been going lower since monday. The lower then expected consumer sentiment did not help retailers... if we get a slow holiday season these stocks will get a hair cut.
Nullz-
Applaud on your short of these two securities. Looking like you're picking up some nice gains already. Be careful here, though. ANF and AEOS are likely to profit early in this holiday season due to below seasonal temperature. I'm anticipating fairly strong October sales numbers from clothing retailers...but of course, with that means lower numbers later in the season. I'll be watching. Good luck to ya ;)
Weeeell I stand corrected ;D Looks like ANF is going to get roughed up a little today!
Looks like there is support at the 50dma with the bounce today. However I think ANF is going to slowly drift back down to retest it again.
i am also shorting this pig at 73 target MA 50
MACD Hist goes down....and a weekly big red candle recently
Good time to enter a short position. Weak rebound ANF trading in the 70.00s.
i am shorting this pig with stop 80.47 entered 79.42; Risktolerance 1.3 %
The recent runup in retail is really unwarranted. ANF does look good for reshorting.
Quote from: nullzero on January 22, 2007, 04:47:50 PM
The recent runup in retail is really unwarranted. ANF does look good for reshorting.
nasdaq might close 2nd day below MA50....today was to think people we go up then the fall....i think the smart money went short already. (hopefully)
Fully agree with you Ket, we should talk about it in more depth under the major indices forum or under my Short Thread! located here http://www.3stocksonfire.org/trading/index.php?topic=6366.msg85415#new
I am in the QID which is the ultra short on the QQQQ and im shorting RIMM (RIMM btw had a unwarranted bounce today would take a look at it for a short.)
Here is todays chart for ANF nothing much happening today. The chart looks weak for the bulls though with a rolling top.