My BRK.b short had to be closed out a little early a couple weeks ago, as Berkshire got to around $204 and the market didn't want to go much lower. I made a profit but not nearly the profit that was planned (same for the AMD spread). That's what a bullish market will do to you. Now the BRK.b chart channel is looking like it is getting close to resolving itself one way or another and looking more like the coiled spring triangle that I always dread. The reason I don't like the pattern is that there is about a 50/50 shot of which way it breaks and even when it does break half the time it ends up being a false break and then goes right back to the channel or right through it. So BRK is a no touch for me now.
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Paul SaadSenior Manager, Paul Saad and Associates, LLC Archives
May 2020
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