Short Waddell & Reed (NYSE:WDR)

The algorithm picked up a strong trading pattern on Waddell & Reed Financial Inc. – the same company apparently responsible for the flash crash of 2010…  and we say ‘apparently’ because this has since been debunked by none other than the high frequency crime scene forensic experts over at Nanex.

This pattern has proven more profit efficiency while long than short, but it seems the stock is quite extended.  It seems analysts gave up covering the company a while ago and there is no recent news catalysts, so perhaps it’s just a correction… we will see…

WDR 240min – click to enlarge


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