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Thread: ENG - Short Sale Opportunity?

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    EnGlobal (ENG) provides engineering services to the petroleum industry. They just released great numbers: Revenue up 56.9 and net income up 100. Ive been lucky enough to enjoy the ride over the past year. I got in about 18 months ago at 1.20 per share and today its closed at over 14.00 per share...but all rides come to an end.

  2. Default ENG - Short Sale Opportunity?

    The PE of ENG is over 73 and no where close to any of its competitors nor can the company continue to sustain growth at it current rate. Seems to me like its a great time for a short sale and enjoy the ride as it comes back to a more reasonable level. Any thoughts?

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    No.. I dont like it short here at all.. maybe at $16.00, but not here.. that thing just broke out of that base by clearing resistance at 13.00

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    Freakin awesome short! Just wait for the 14.48 high to get taken out. Based on the 10 day chart alone it is about 1.50 above the maxi it should have gone on this rally. It will turn after the high goes and then fall all the way back to confirm the nonconfirmed trend low at 10.00 from 2 Monday's ago. I'm sure it'll go alot lower than that too.

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    Looking at Bman's posted chawt you can see all the proper signs of a completed top. Early this year it set a trend top at 13.75ish as we see the ADX line at or above 60 according to DMI. The ADX line then broke below 20 just recently signaling sell on a 6 month time frame. The stock then proceeded to rally off that signal which is bearish.

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