I was looking through the usual watchlist and brought up microsoft. I was really surprised how overbought it was. Yesterday produced a gravestone doji but today did not confirm. If tomorrow (june 18) shows weakness, I will look to short. Should be an easy ride down to $22 or even down to the $20's where the 50 and 200 DMA are. Caution is needed however since the 50 day crosses the 200 DMA today. Bull market or pull back time? I will be watching.
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MSFT: Overbought
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I sold short 200 shares of MSFT today at a price of $23.53. The day finished with a red candle so friday could be the day.
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