Each week at ChartSmarter we like to bring to a little insight into what we do on a daily basis. We have been at it for more than 4 years and we love doing it. Each night we detail 8 to 10 of our favorite ideas, both long and short, for the next days session. We do NOT have a chat room, nor are we active “tweeters”. We like our business growing by word of mouth. Below is precisely how they were written in our daily reports. For those who would like to see a full copy of our Wednesday Game Plan, email me at chartsmarterblog@gmail.com.
Not all V shaped recoveries are created equal. Especially ones that form in a severe downtrend. This was how we looked at WOR in our Game Plan from Tuesday 2/10 which we posted in its entirety here. Today WOR crumbled more than 13% after the CEO spoke cautiously Tuesday.
Stocks to be viewed as shorting opportunities are WOR. WOR is a metals processing play that years back was viewed as a best of breed name. That has all changed as the stock is up 1% YTD but lower by 20% over the last one year period and sports a dividend yield of 2.3%. WOR lost ground EVERY time reporting earnings last year highlighting its laggard status. It fell 11.4, 3.7, 2 and 4.5% on 12/18, 9/25, 6/26 and 3/27. The stock has undergone a V shaped recovery, up the last 3 weeks in decent volume and by more than 20% but has been halted at the 50 day SMA currently. Lets look to short here with a tight stop.