I went short Abercrombie and Fitch two days ago and it has paid off so far. Although it has sold off two days in a row so far, I still expect a few more percentage points decline to the $29.20 area of the 38% Fibonacci retracement of wave 1. Here is my trade from two days ago:
Buy to Open ANF May 20 27/30 Put Vertical @ $1.31
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PLEASE NOTE: THIS IS AN ELLIOTT WAVE BLOG EXPRESSING AN OPINION AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. TRADE AT YOUR OWN RISK.
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