NOK (Short)...

I feel like I'm running a long-short tech portfolio here. :-p I don't mind so much having multiple picks in the same sector so long as there's a blend of longs and shorts, as we have in tech. When it's too heavily skewed long or short, that's when I get antsy. Anyway, I've got another tech pick, this time a short of NOK. They reported earnings last week, and you can see the high-volume breakdown from Thursday. This was a significant breakdown below the 50-day EMA, and I believe NOK is a short on strength. I would not look for the big gap-down to be immediately filled, as I believe the 50-day EMA and middle BB will act as resistance. I do still believe NOK has further to fall.



Position: none