Making money grow by finding bubbles and shorting them
Saturday, August 24, 2013
DRV - Was that all?
I sold of my position in DRV from the top with a very small profit. The reasoning is that the second top is not much to look at compared to the first. It should be even bigger, it is the second one and there is a clear tendency for reversed leveraged charts like this to go through periods of volatility in a megaphoning pattern. So I am hoping for at least a small overshoot of the last top to get a chance to get back in near the 80 level. (It must have reverse splitted since Friday? I rememer it being in the 23:s) But there is also a risk that this is all we get. The second top has an exponential unsustainable shape while the first one has a typical consolidating strenthening shape.