The speaker has initiated a short position on Oaklo stock, predicting its decline due to an overbought reversal setup. He plans to cut losses if it breaks above $111.50 and add to the short if it retraces below the moving average.
"Oaklo is definitely one of them. As you guys could see with this huge overbought reversal, I have a specific trade right now. I have an overbought reversal short. If it ends up breaking above um 11150, I'll end up cutting losses. But if we actually see a retracement below the moving average, I'll double down on my position, adding a little bit more once direction becomes favorable."
