EZCORP is around $14.66 as I type this; I'm starting a 2.9% exposure. It's stalled at the 200 day moving average each of the past 3 sessions intraday. I'll set a quick stop loss just north of $15 and add to my long position if the stock is strong enough to break through. $15 is about 2.5% downside. I'll shoot for $13.50 on the downside or a 7.5% gain.
2.5% bad vs 7.5% good or 1:3 ratio.
note: I like this name fundamentally :)note: tricky set up with Fed announcement tomorrow - the lemmings in the stock market will probably bid this market up when Ben announces how he will be buying every asset under the moon so that all risk is taken away from the market and onto the backs of taxpayers. Remember, it's not the first 87 government interventions that will "fix it"; it's the 88th.
Long/Short EZCORP in fund; short EZCORP in personal account
2 comments:
Mark , loving these new hort ideas. Check out KSS, Kohl's. Downgraded today, they are gonna crap thier pants when the numbers come out
yes, this is a lot better than buying Ultrashorts and waiting for the market to fall 4% in 1 day
I like JCP chart better as a short but I agree with you conceptually.
Gosh I wish I caught Saks at $5 earlier this month
M, and JWN are either going to break down or bust out here, right at support.
Depends on Kool Aid.
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