Friday, January 31, 2020

Medtecs Intl - Naked Shorting, Crumbling Hard Pt 2








It was a great good dinner last evening where I invited some traders and learners to have a casual evening with me. We chatted, shared ideas and motivate each other in the trading and personal level where I believe everyone was captivated and motivated by Chan's talk. I also shared some outlook on medtecs intl and the recent coronavirus spread which is currently killing the market's vibe. Some of my traders naked shorted Medtecs Intl yesterday and had to cover the shorts yesterday while Medtecs Intl continued to tumble more today. Unfortunately there are no scripts for shorting this counter but one can always do naked shorting and perform a short cover to profit from the down side.




As for writing this blog post, Medtecs Intl tanked further, faster with speed and volume which might have indicated panic selling where everyone threw the white towel. At this point, I wouldn't do naked shorting anymore and would look to cover my short sell positions and lock in profits.

Ronald K - Market Psychologist - A Stock Market Opportunist