SHLD covered

Posted by: rp on the 28th of Nov 2011 at 12:50 pm

didn’t think i’d get another shot at it today but just covered SHLD short at 58.57 as the short-covering rally was faded pretty quickly today and it’s basically back to that final target i missed on friday.  probably has more downside from here but a target is a target and i’m going to look for a trade with more meat left on the bone to redeploy that capital.  staying short after getting 20 pts in about 3 weeks is the epitome of that whole “bulls make money, bears make money, but pigs get slaughtered” phrase.

  • SHLD update

    Posted by: rp on the 28th of Nov 2011 at 08:56 am

    Title: SHLD update

    posted friday that the SHLD target was hit but unfortunately i wasn’t able to trade that day and forgot to place a buy-to-cover limit order before leaving town so i’ll likely be giving back some gains today.  hopefully, anyone else who took it was able to cover and book the quick 20 pt gain.  will assess the trade based on how the market closes today.  at this point, i’m expecting today’s big up move to be a one-day wonder, maybe a little higher into tomorrow before the downtrend continues but just too early to say with confidence just yet.  original then most recent daily and 60 min SHLD charts below…

SHLD target hit

Posted by: rp on the 25th of Nov 2011 at 03:00 pm

just checking in to see how things closed and noticed that the SHLD short from last week or so hit the first marked target on the daily (final target on the 60 min…both charts in thread).  actually closed right on the 60 min final target so probably would have taken profits had i been around.  very nice trade so far but as i’m still in it being to lazy to put a buy-to-cover limit order in before i left town, i’ll update the chart on sunday night for anyone that took it.  most likely will ride out any bounce/short-covering rally and i.d. the next downside targets but must look at the charts on sunday before making that call.  have a great weekend.

SHLD update

Posted by: rp on the 15th of Nov 2011 at 10:07 am

i’ll try to update some existing trades before i go if anyone took them.  on the SHLD short from last week, i plan to tuck it away like most of my swing-shorts but here’s a few targets on the 60 min.  we are now at the first target/support level.

SHLD short

Posted by: rp on the 9th of Nov 2011 at 07:28 am

one of the most “tradeable” stocks out there.  simply buy or sell (short) the trendline breaks on the daily.  if the initial trade doesn’t work out right away; “don’t be sore, buy (or sell) more”….on the re-test that is.  60 min rising wedge also shown below which coincided with the last daily TL break.