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AVGO & XLE/ERX Stopped Out

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

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

XLE daily May 31st

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May 31, 2016 12:01pm|Categories: Completed Trades - Short|Tags: , , , |Comments Off on AVGO & XLE/ERX Stopped Out