September 24, 2020

After a short at $16.32, The E. W. Scripps Company (SSP) rapidly fell into the target zone trading as low as $13.15 in the premarket.  All subscribers should have taken full or partial profit.  Those who are still holding partial quantity may consider moving the stop to the zone of $14.56 to $15.31.

This post was just published on ZYX Short Sell Change Alert.

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The E. W. Scripps Company (SSP) is buying ION Media.  Buffett is helping SSP by making a $600 million preferred equity investment. However Buffett is getting very attractive terms that are not available to regular investors.  The stock has jumped 56% to $16.31 in the premarket.  The short zone is $16 to $18.88. Maximum recommended position size is 25% or less of full core position size.  The problem with this trade is that the ideal place for a stop is over $23.  Consider stops on one-half of the quantity in the zone of $20.11 to $20.56.  On the remaining consider stops at $23.11 to $23.67. … Please click here or the title below to read more.