I
recently executed a successful short sale on Creative Technology, which
resulted in a significant profit when I bought back the shares.
The
price surged very quickly with exceptionally high trading volume after the
announcement made following the market closed on 21 Sep 2023, regarding its
strategic partnership with Skyworth Group. However, the share price of Skyworth
Group has remained muted since the announcement.
From a technical perspective, it appeared then that a significant correction for Creative Technology was imminent. It seemed inevitable then that Creative Technology was due for a considerable correction and my estimation was prescient and timely.
Creative daily chart at the end of 3 Nov market close.
As the market grows increasingly uncertain, it is becoming apparent that there will be more profitable opportunities in shorting stocks rather than longing them.
Superphang
http://superphang.blogspot.sg
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