Hubert Senters here.
Let’s take a look at AZO. This is Autozone yet it had a massive hundred point drop from $700 down to $600 and I sent a video out a couple of days ago saying ‘’hey, do you like this as a short or not?’’ You got another opportunity. Here’s what these things tend to do so.
Especially when they’re that big you’d just have to be careful. You can’t short the bottom because all you do is you end up just getting your face ripped off by the market because it’s almost like it’s dry tinder like just one spark and you’ll get just one heck of a little rally off of that.
Now, it’s still bad. I mean it’s in a rough shape. But what they tend to do is they tend to retrace from the dead high to the dead low right there. We’ll make this to the dead high right here. It usually rally or retrace about 50 percent of that and then they stall and then they roll back over. So you’ve got another opportunity here with another one that’s probably going to do this WHR.
And you’re starting to see a lot of these crop up lately. So you’ve got a nice sort of gap down. Looks like it’s going to go down to $120. Obviously, it’s not going to do it in a day or so. So it’ll probably bounce the exact same way that AZO there did. So what you’re going to do here is there’s your high. There is your most recent low.
So what I would do is I’d put a sell order to short the bad boy in at $154.82-ish all the way up to $155.78 with a stop-loss and then my target would be this most recent low here of $151 so that’s how I would do it.
I am going to be doing a special webinar on ‘’How to make $6,281.25 Risking only $312.50.’’ I say potentially I actually did this but I’ll show you how to do it. It’s not hard I get to do this one simple trade stay in it for multiple days and you’re good to go. You have to have the market trending well for now.
Right now it’s setting up in the opposite direction. So it’s a perfect time to learn this type of stuff. The webinar is going to be Friday May 25th at 12PM EST. That’s lunchtime. So I will see you tomorrow at lunch.
Good luck. Hope it helps. And I’ll see you on the next video.
Hubert.
