Safe short? Opinion:
With rising gas prices in the Netherlands, a lack of financial support for industry energy prices and gym memberships being a 1 year contract.
I think it is safe to expect $BFIT to loose its gains very soon. Gym's are one of the most electricity consuming retail focused activities, with high delinquency rates.
Looks to me like a safe #SHORT.
(PS: Time to short energy intensive stocks ahead of E.U winter. If you have other energy intensive stock ideas, please post in the comment section.)
Notes on how I personally use my charts/NFA:
Each level L1-L3 (S1-S3) and TP1-TP3 has a deployment percentage. The idea is to flag these levels so I can buy 11% at L1 , 28% at L2 and if L3 deploy 61% of assigned dry powder. The same in reverse goes for TP. TP1: 61%, TP2:28% and TP3:11%. If chart pivots between TP's and L's these percentages are still respected. I like to use the trading range to accumulate by using this tactic.
Just my personal way of using this. This is not intended or made to constitute any financial advice.
This is not intended or made to constitute any financial advice.
FED Macro Situation Consideration:
All TP's are drawn within the context of a return to FED neutral policy. I do not expect these levels to be reached before tightening is over.
NOT INVESTMENT ADVICE
I am not a financial advisor.
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