Hubert Senters here.
Let’s take a look at GWW or WW Grainger. Catalog businesses selling all kinds of different parts and tools and stuff like that. It’s kind of an antiquated business model now that everything is online, everything is headed that way right if it’s not so they’re going to continue to take some lumps.
And you can see it broke below the cloud consolidated and then gap down after earnings. There’s a big gap down here that needs to be close at $232. That’s where I think it’s going to go to next in that area. And then after that it may ultimately drop all the way down to $173 and it’s still got some more droping to do after that.
Let me look at a little bit longer timeframe here. I mean weekly it’s had one heck of a run from $157 so if we do just a 50 percent pullback from there to there would be normal. It would be about $240-ish or $261 down to $236. And then if that breaks it could retrace all the way back to $153 so looks like a wonderful short on the daily.
And I don’t think that the cloud is going to hold it so be careful if you are long, if you’re short. Congratulations you’re killing it now. And that is the video today.
Mark and I are going to be doing a special webinar on ‘’How to Trade Minnow Risk to Target Whale Profits.’’ It’s going to happen on Wednesday, October 17th at 8PM EST. All you got to do is click the yellow button. CLAIM MY SPOT NOW.
Good luck. Hope it helps. And I’ll see you on the next video.
Hubert.
