Yesterday, the HPQ long trade did indeed recoup all of it’s losses since the original long entry and even went slightly profitable. Those still in the position might consider a stop below today’s lows as that is where I will officially remove this trade from the Active Trades category. As per my plan, I did exit my position yesterday and I have continued to move back towards an aggressively short positioning throughout yesterday and today by closing the last of my long-side hedges and scaling back into many of the shorts that I recent closed (along with some others).
However, I realize that many traders and investors won’t always share my market bias at times and as such, I continually strive to post the best looking trade and investment ideas, long or short, irrespective of my own personal views on the market. I do have a few long candidates that I might post soon but I’d like to cull through the existing trades first to remove any stopped out or less promising trades listed on the site. I also might prefer to see AAPL & the QQQ take out those previous posted resistance levels/bounce targets that they are currently struggling with before adding any longs. Either that or maybe an orderly, low-volume pullback first to help alleviate some of the short-term overbought conditions.