VMW – Triangle / Short Squeeze
VMW was highlighted on last night’s watch list. Despite gapping down this morning, it recovered nicely and formed a bullish bar right under the downsloping line of the triangle. I entered on a break of that bullish bar with a stop just below it.
My initial target was the 54.28 level (the 200% Fibonacci extension), which is right below the 50 day MA (~54.30), yet VMW started to form some longer wicks prior to reaching the 200% Fib. extension.
Keep VMW on your watch list. There is still a very high short interest and it appears to be turning higher.
In addition, stocks like CROX (47% short interest) and NTRI (65% short interest) are in similar situations.
[...] The Short Squeeze – A few setups to keep an eye on Recently, I’ve done pretty well trading other highly shorted names such as CROX, NTRI and VMW. [...]
The Short Squeeze - A few setups to keep an eye on « Trader MD said this on April 13, 2008 at 7:43 pm
[...] VMW – Triangle / Short SqueezeVMW was highlighted on last night’s watch list. Despite gapping down this morning, it recovered nicely and formed a bullish bar right under the downsloping line of the triangle. I entered on a break of that bullish bar with a stop just …Trader MD – http://tradermd.wordpress.com [...]
vmw | Lasts information said this on April 22, 2008 at 3:55 pm