I find myself constantly wrong. I've developed a kind of confirmation bias against my own decisions. I thought after how far $WWE fell, that it's recent strength must be a comeback. Honestly I hate scripted wrestling, but I feel the business itself can't get much worse, and I know for a fact it's still capturing the attention of today's male youth.
People can blame the downturn on a hedge fund short position, but really no one knows. Frankly, it doesn't matter. You don't get a refund, at least I don't. Also, some will say that the short interest will propel it upward, the RSI is too low, etc. Maybe, maybe not.
I will say this, earnings is coming up. If by the end of Friday it hasn't shown strength relative to the market, then I wouldn't expect it to until ER. Unfortunately I won't be in the stock until it proves itself.
I was also wrong about $KO, and exited it at today's open.
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