Short

Wayfair bear flag breakout

Updated

Bear flag target $75

Trade closed manually

Retail down big today and we only got a $2 drop. Looks like there's some support here, will probably waffle around until it drops when Feds increase rates (or when Wayfair pays big interest on their bonds). Too much spread between bid/ask on puts, figured I'd flip them while I can for a small profit.

Note

Mind you that I think this company will go bankrupt, already negative book value, borrowing more money. Selling products at a loss to increase revenue to pump the stock. Reminds me of the dot com bust, only AMZN and eBay were successful, most of the other companies went belly up.

XRT is easier to day trade, GM bear/bull flags are easier to trade.

hungry_hippo

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