On July 31st, I made an idea open to the public when I opened up a large short position on $DAL. Today, I am about done with the position and I’m about to close it all out.
I said that there was a chance we see a 10-20% downturn, resulting in NYSE:DAL under 40.
Here we are today.
Congrats to everyone who took the trade!
NFA.
If you have not gotten in, you are about 6-7% late, however, we just broke the H&S neckline. Lots of confluence there with the volume shelf. I reckon we have a ton more room to fall from a once deeply overbought territory.
PT: sub-40
