Just to clear thing: I don't ever think Tim ever means, "BE SHORT THIS STOCK AT OPEN", but to be on the lookout for a short position. That being said, Tim has good and bad reasons for this. Where Tim is right: MGT has been up since wednesday, and if you look at the 5 day chart day, it looks over-extended and is almost begging to be shorted. Where Tim is wrong: It has positive news today and he thinks its a short on Friday, the MOST difficult day to short on. Personally, I'm looking to go long o

@Daddycrate . There is really no right or wrong answer my friend, just follow price action. It might be over extended but keep an eye out for squeezes. Have a plan and if it goes against your plan. get out!

A play starts to draw in shorts when it becomes way overextended. The shorts are betting that it has gone too far too quick, and needs to pull back to correct. Shorting it today was too risky for me too in my opinion. Just shorts jumping in too early. Tomorrow we should see some correction

Thanks a lot for you responses. They were very helpful.

That's definitely over-bought and over-extended. It's going to eventually start coming down, but the way the chart looks now, it's not a chart pattern I like to trade personally.

I like it, I'm going to watch this stock seriously

@Freedomtrader757 Fair enough. I had only asked because it possessed most of the qualities you described about $NTRR. Also, I agree that that $NTRR is most likely going to crash, but are you at all concerned that this broke the resistance from October?

@Daddycrate, you have a good question. I'm more focusing on the resistance levels from Aug thru end of Sept. (around $2.25) where price closed on Thursday and there's also another level of resistance stacked at $2.50-$3.00 from (Feb - May 2015). I'd actually like to see it try to breach that level on Monday and then reverse. If it does that, I'll short it

ThinkOrSwim

ThinkOrSwim is what I use. It's been a great tool.

Try market watch game

Think or swim

My thesis would be that it has been up-trending 3 days in a row and it is the holidays so newbie traders will buy which could push the stock up.

i think potential short

Whatever you do just make sure you have a plan in your head and follow price action.

It broke out to new highs towards the end of the day. I think it's going to keep going.