CONN is over extended so when it spikes up tomorrow morning, i'll look for a spike to go short into that spikes near yesterdays highs or a spikes into the 10 dollar level and then i'll go short with my risk slightly above 10 dollars. I'll cover half my profits into the first washout
I'm seeing a shortterm bull followed by a quick bear move to the pitchfork median below.
Looking at the fib levels, and hourly lower indicators; i'm pretty sure we are in for a bear in the next few days. However, things look a bit different (indicator wise, at least), when you bring in the dailies. They are looking bull.
Listen to the facts vimeo.com
Waiting for better positioning, but this is looking like an overall great short
Trade able from $36 to $43, maybe $45 (resistance)
CONN expected to open at 30.00 for a Retest Gap. Watch out for slightly low volume. To learn to trade this strategy for free go to www.RealLifeTrading.com