Get started

Procter&gamble

Everybody's Gone Shortin' - Shortin' U.S.A.In this post I would like to put together some previous stock market calls (still valid), as well as add two more promising shorts. It's been a rough week for US stocks culminating in a clear break of the Head&Shoulders' neckline at 2045. This kind of pattern is usually referred to as "Complex H&S top" , because there are multiple peaks and its "head" is a H&S pattern itself. The traditional target is set in the 1945 area , though we expect a move of greater magnitude. There is a more traditional H&S in LinkedIn. It calls for a sizable move to the downside. Another bearish pattern is a Rising Wedge, or Ending Diagonal, in Bank of America. The first target here is $15 area, which is some 10% from here. I'm still positioned according to previously published ideas: Baidu IBM Intel and Procter&Gamble : All of them are currently profitable. Best of luck, mates
SP:SPXShort
by Nickonomics
2
It's No Gamble: A Major Top In Procter & GambleAlthough Procter & Gamble delivered quarterly profit that topped expectations on Thursday, it marked the sixth-straight drop in sales. Revenue of $17.79 billion was below forecasts and lower than last year's $20.16 billion, as P&G continued to be weighed down by a stronger dollar that stripped the value of overseas sales. More pressure is yet to come as the Fed prepares its rate hike. From a technical perspective, the Head&Shoulders pattern is almost complete. The price has broken down below the former trendline support. On Wednesday we saw a retest of that line - and the move lower. According to the Elliott Wave Principle, the usual minimum target for the unfolding correction is the extreme of wave (a) of Triangle. In this case, we expect a more severe correction below $67.29.
NYSE:PGShort
by Nickonomics