Back on July 23 we recommended the long side of NortonLifeLock (NLOK) , writing that "NLOK looks like it is positioned to move higher from here. Traders could go long at current levels and on strength. Risk a close below $19 for now while looking for gains to the $27 area and possibly $35 longer-term." NLOK did rally into late August but stopped short of our $27 price target.
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It feels like these companies are casting a wide net, but it makes sense to file at the beginning of this mushroom mania.
Short selling is a powerful tool, but it is not just the inverse of going long and requires a very different mindset to do it effectively.
I believe the markets are headed lower - probably not in a straight line or as steep as the last few days, but in a saw tooth fashion lower.
It is premature to declare that the worst is over, but the intensity of the selling will go a long way toward helping a bottom to form.