The following short trades will be moved to the Completed Trades (Short) category as they have either exceed the previous suggested stop (or any reasonable stop, if none suggested) or the technicals no longer warrant remaining short at this time. Several of the Active Short trades still look to offer objective entries or add-ons at this time with others trading right at or just above key support level, which may offer another objective entry or add-0n once those levels are taken out. I plan to highlight some of the more promising short trades soon in addition to adding some new trade setups over the weekend & into next week.
BWS- Stopped out as per the previously suggested stop criteria (SOAPSC)
COST- Exceeded the suggest stop of 127 if targeting T1. No stop listed for T2 but COST will be removed as the charts just don’t clearly warrant being short at this time.
GS- Exceeded the original stop of 170 a while ago as well as the 181.13 level which was most recently mentioned as a level that GS needed to remain below to keep the bearish case intact. GS will most likely fall inline with the financial sector but GS will be removed to make room for more attractive short candidates.
HAIN- The previous breakdown proved to be a false sell signal as the stock quickly reversed & move higher to exceed any reasonable stop. HAIN does still look ripe for a major correction from on the weekly time frame and may be added back as a new short setup soon.
HSNI- The HSNI setup never triggered the conventional entry of a break below the neckline (support). However, the alternative, aggressive partial position entry was triggered but the charts no longer support a compelling bearish case and HSNI will be moved to the Completed Trades category as an un-triggered conventional trade setup and a stopped-out, partial (1/2 or less position) aggressive trade.
LNKD- Hit the 3rd target for a 26.5% gain & continued to fall about 2/3rd of the way to the 4th & final target before reversing & exceeding any reasonable stop.
TASR- Hit the 2nd target for a 30.5% gain & continued lower to reverse just shy of the 3rd & final target before exceeding any reasonable stop.
TJX- Hit the 2nd target for an 11.4% gain & then reversed to exceed any reasonable stop. As the charts no longer support a compelling case to be short, TJX will be removed from the Active Trades category as a Completed Trade.