Short-Sale Set Up - Peloton (PTON) 9/23/20
| Published: | 23 Sep 2020 14:12 ET |
Exercycle maker Peloton (PTON) is rallying towards the $100 Century Mark. Within the context of a continued market correction, this could play out as a short after briefly clearing and then reversing at the $100 price level. In this case, and within the context of more market downside, this is a short entry using the $100 level as a covering guide. Also be aware that this could also still play out as a long entry if it can regain the $100 level and hold it per Jesse Livermore's Century Mark Rule. If it holds the intraday failure at $100 so far today, then Livermore's Century Mark Rule in Reverse for the short side is in effect.
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