Oracle Had A Fundamental Catalyst That Made It A Good Short

ORCL reported disappointing earnings after the Close on June 17th. The next morning it traded lower before rallying back $ 2 with the market. I had two reasons why I thought it would roll over again the next day. One, I believed the large market rally the prior day was the primary driver of its bounce from 41 to 43. Two, after large funds had a chance to digest the earnings release which showed disappointing subscription numbers they would sell, because SAAS is the only major catalyst for ORCL at this point which I am aware.

The above graphic is from the pre-market game plan I write out each day so it is easier to follow Read more […]
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