I will be spending some time in updating the official short trade ideas today, starting with those trades that have either hit one or more price targets and/or exceeded their maximum suggested stop. Time permitting, I plan to wrap up with a quick video covering all the remaining Active Short Trade ideas & maybe touch on any short trade setups that stand out at this time. Long trade ideas & setups will be updated next.
After triggering a short entry on a cross back below the 149.00 level on April 22nd, the AVGO short trade quickly fell to within 3/1oths of 1% (30 basis points) of the first target, 138.64, before reversing & closing slightly above the suggested stop (a daily close above 153.50) with a close of 153.57 last Wednesday, resulting in a small loss of 3% on the trade.
AVGO daily May 31st
Another recently stopped out short trade was the ERX/DUG/XLE short trade entered on May 18th at 27.81 (ERX), which hit the suggested stop (a close above 67.30 XLE) also on Wednesday with a close of 67.37 XLE, for a loss of 6.3% on ERX, 3.1% on DUG or 2% on XLE.
XLE daily May 31st