In updating the trade ideas today, the following Short Trade Ideas have either hit their final profit target, were stopped out as per the previously suggested stop criteria (SOAPSC) or no longer look attractive from a risk/reward perspective. Some of these stopped out short trades hit one or more profit targets before reversing & exceeding their suggested stop while others failed to reach any downside profit target. As always, all completed trade ideas on RSOTC are archived indefinitely under the Completed Trades category for future reference.
AON: Dropped 10% following the short entry before reversing just shy of the T1, the sole profit target, and exceeding the suggested stop level or 90.50.
ALK: SOAPSC
AVGO: SOAPSC
BC: Came within 31 cents at T1 on Oct 16th before reversing & exceeding any reasonable stop (none suggested).
BXS: Hit T2 for an 18.1% gain on Oct 15th & has remained profitable since entry. However, As the charts no longer clearly warrant remaining short, BXS will be removed from the Active Trades category.
FFIN: SOAPSC
FISV: SOAPSC after reversing just shy of T1.
FRC: SOAPSC
KIE: Bounced off the S1 (support) level and went on to exceed any reasonable stop.
LYV: Hit T1 for a 7.8% gain then reversed just shy of T2.
OZRK: Came within 1 point of T1 before reversing & exceeding the suggested stop.
PACW: Exceeded any reasonable stop criteria (none suggested).
IWM- SOAPSC
WAB: Hit T1, the final & sole profit target to the exact penny for a 13.9% gain before reversing.
EVR: Hit the first profit target (T1) for an 11.2% gain & went on to gain as much as 18.6% before reversing a mere 12 cents above the second & final target. This trade is still profitable but will be removed as the chart no longer clearly warrant remaining short at this time.
SAVE: Hit T1 for a 23.3% gain on Oct 13th & immediately reversed, exceeding any reasonable stop (none suggested).