3SOF

PDLI - 5min descending triangle, shorted @ 18.20

Hey elite G  joining you in a small position on PDLI
like the looks of the chart, hope this works for us.
shorted at 18.24

cool pirus 

I'm sure there are many good looking shorts out there but I am gonna hold off to see how this list concludes.  I may have to rework my short analysis if I dont get a good return here.

List:

Hey eliteG looks like I'm getting stopped out in a couple more ticks
my stop is in at .75  I see you have yours at .77
there will be others.

if these dont start moving down..i'll have to go back to formula.  There will be others 

did u short TARO?

the chart looks uglier and uglier (prettier, actually...) 

I did not short TARO although it went down nicely.  It was a bad short picks day.  I'm going back to formula.  My belief is that there are always stocks to short.  Of course there are better times to do this at.  Will not be updating this for a while.  Who knows maybe I'llhave a new "formula" by next week.

Good trading,
g not so elite
 

Take a look at IIJI 

TARO keeps heading in the right direction... slowly and steady... 

In retrospect, PDLI looks like a complex head and shoulder formation preceded by a rectangle.  June looks like a pennant, a pullback, and a brakeout.  Chart formations haven't been working normally this year...this is not 2002/2003 for sure.
http://tinyurl.com/bel6e

Here is my old "triple top" short of TPL. Thought you would be interested in a before and after chart...

Any thoughts on the SVA head and shoulders?