Buy SKF or not ?

D

Digs

Will the naked short selling rule, prevent decent rallies in the SKF ??

I noticed to today in the last hour it didnt move when DOW tanked !
 
Quote from Digs:

Will the naked short selling rule, prevent decent rallies in the SKF ??

I noticed to today in the last hour it didnt move when DOW tanked !
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I follow and trade this all the time, surprised to see it up about $2.00. Im holding a position now. The whole naked short selling rule WILL NOT prevent decent rallies in SKF.


If you are going to trade SKF dont go all in at once, its extremely volatile and can trade 10-20 in a single day. Im waiting for more of a pullback to add more, something under $110, if you have patience then wait for something under $100.
 
SKF actually made a pretty good move in the last couple of hours but you shouldn't expect it to track the DOW...since it doesn't.

It seems that there is support around 117 so hopefully it won't break below that.

In the long run I'm bullish for SKF but you have to have balls of steel to ride out the volatility if you have a big position.
 
Quote from skellington:

SKF actually made a pretty good move in the last couple of hours but you shouldn't expect it to track the DOW...since it doesn't.

It seems that there is support around 117 so hopefully it won't break below that.

In the long run I'm bullish for SKF but you have to have balls of steel to ride out the volatility if you have a big position.
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Right now SKF is a great trade below 117 but you need to have guts due to the volatility in the financial sector. You might buy at 117 and be in a hole when it hits 112 later that day but you will probably get to unload at 145 a couple days later.
 
Quote from S2007S:

I follow and trade this all the time, surprised to see it up about $2.00. Im holding a position now. The whole naked short selling rule WILL NOT prevent decent rallies in SKF.


If you are going to trade SKF dont go all in at once, its extremely volatile and can trade 10-20 in a single day. Im waiting for more of a pullback to add more, something under $110, if you have patience then wait for something under $100.
More...

I'm looking for the $BKX to run up to 75 or maybe 80 if it's feeling strong, conversely I anticipate SKF breaking down to 110, maybe 100 for a nice entry. May take a week or two though.
 
Quote from Sniemiec:

Looks like it has good support from here on.
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can an ETF have support and resistance in the same way as an individual stock? it seems doubtful to me.
 
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