Shorting Wood - $SARK

Betting against the recent junk bounce

The market looks ready to begin punishing junk again. The SARK 0.00%↑ dipped nearly 50% from a local top in December ‘22 to its recent low on 2/1. It’s got a 5/20 MA cross and the market backdrop seems to support this price movement. This week may be the start of the next countertrend, and there’s only about $4 of downside to close it out if that’s not the case.