In updating the trade ideas on the site, the following trades will be removed from the Active Short Trades category. These trades have either hit one or more profit targets, exceeded their suggested (or any reasonable) stop criteria, or based on the technicals, these trades no longer offer a very attractive risk/reward profile. Also note that there are a few short trades that have exceeded their suggested stop(s) but still look attractive and as such, will remain as active trades for now. I will update those charts on an individual basis asap.
Remember, although I do my best to identify targets and stop levels which I believe are most appropriate for each trade posted here, the profit targets and stop levels listed on these trades are only suggestions. All traders and investors have difference time frames, risk tolerances, and trading styles hence, one of the reasons that I often list multiple targets and stop criteria. I also often mention the pros (and cons) of a flexible trading style which might allow for more liberal or tight stops; larger or smaller profit targets; increased or reduced position sizing; etc… depending on market conditions at the time. Therefore, use RSOTC.com as a tool to help find trade ideas that fit your style but make sure to choose a price target(s) and stop level(s) that is in line with your own unique trading style, objectives and comfort level.
ABT– Hit first profit target back on Nov 15th, then bounced to exceed the suggested stop levels.
AMZN– Hit first profit target on Nov 15th for a 13% gain, then bounced to exceed the suggested stop levels.
CELG– Hit first profit target on Nov 8th, then bounced to exceed the suggested stop level.
CERN– Reversed shy of T1 then exceeded the suggested stop.
CMG– After dropping nearly 200 points from the original entry, CMG has slightly exceeded (in percentage terms) the last suggest stop level so it will be moved to the completed trade category. However, longer-term swing traders still in the position might want to give CMG a little more wiggle room on the stops as the longer-term technical picture remains bearish. I may add this one back as a new short if the charts confirm an objective entry. Also keep in mind that the last suggest stop was more for those re-shorting or adding on to the existing CMG short on the bounce back to the T2 zone. Those short from the original entry might continue to hold as a trend trade/long-term swing trade.
EXPE– Hit the first profit target for a 9% gain back on Oct 25th, then bounced to exceed the last suggest stop level. Therefore, I will move EXPE to the completed trade category but am considering adding it as a new short trade at or near current levels. Therefore, anyone still short the stock might want to give it a little more room. Updated chart to be posted soon.
FB– Fell to about 1% within the sole profit target before bouncing and exceeding the suggested stop level.
MDCO– The last update on MDCO on Nov 8th stated: MDCO hit T2 shortly before the close today for about a 16% gain from entry (it was posted along with my other favorite biotech shorts on Sunday, Oct. 21st and opened at 24.61 the next day). I do favor T3 on this trade although booking some or possibly all profits here might be prudent as a bounce off this level is likely, especially with the IBB closing just above it’s first target today. If we get a move down on MDCO tomorrow morning, especially to the 20.25 area (some decent support there), I might consider booking full profits on this trade. MDCO went on to drop to as low as 20.04 a few days later as the IBB hit T1, offering very objective exit points on both. MDCO has bounced sharply from there, exceeding any reasonable stop and will be move to the completed trades category.
SBUX– Fell just shy of the first target before reversing and exceeded the suggested stop level. SBUX will be move to the completed trades category.