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Short Trade Ideas Updated

The following trade ideas have been removed from the Active Short Trades categories as they have either exceeded their previous suggested stops (or any reasonable stop, if none suggested) or the stock simply no longer looks to offer an attractive R/R at this time. Some of these trades may have already hit one or more profit targets while others did not. Most trade ideas on RSOTC are immediately removed from the Active Trades category upon reaching the final profit target while trades which are stopped out or no longer look attractive are often removed periodically in bulk. Inquires on Active Trade ideas that have not been recently updated my be requested via the Contact page, located under the Resources section of the menu at the top of the website.


ABG: Hit the first profit target on Jan 27th for a 9.7%, consolidated for a few days & began moving lower before reversing about half way to the second target, exceeding both the entry level as well as any reasonable stop.

AVGO: Hit the first target (T1) for an 8.3% gain in just 8 trading sessions before bouncing & exceeding the suggested stop level for those targeting T2.

FCH: I jumped the gun on this one, posting an entry on the slightest intraday break below the uptrend line, with prices quickly reversing that day and never looking back. i.e.- A false breakdown or pre-mature entry. I've re-adjusted the trendline since & have FCH on my radar for a new short entry soon as the stock is in what appears to be the terminal stages of a very large bearish rising wedge pattern. FCH exceeded any reasonable stops (none were suggested) and has been moved to the Completed Trades category, where all completed trades, winners & losers, are archived indefinitely for future reference.

GMCR: Hit the second target, T2, back in November 18th which was the primary uptrend & reversed immediately from that key support level, exceeding the most recent & final suggested stop back in early January. GMCR may also be revisited as another possible new short setup soon as the stock has recently made a marginal new high with bearish divergences in place.

GRA: Exceeded all suggested stops without reaching any price targets.

GTAT: This one hit the first profit target back on Oct 29th and went on to exceed the suggested stop of any move over 10.60 all the way back on Nov 14th & should have been removed from the Active Trades list back then.

HAIN: Exceeded the upper-most suggested stop level of 90.50 back in early March. However, HAIN still looks bearish from a weekly perspective & I am following a symmetrical triangle pattern on the daily chart that could provide a new sell signal/short entry, should it break to the downside.

HON: Exceeded the suggested stop of 89.60 back in early February although the stock has pretty much gone nowhere since the short entry in December & as it still looks bearish from a weekly perspective, may be added back as a new short setup in the near-future.

LUV: Exceeded the suggested stop level of 25.00 in late May.

MFC: Failed to reach the sole profit target before exceeding any reasonable stop (none suggested).

MIC: Exceeded the sole suggested stop level back in early February before reaching any profit targets.

MRK: Recently exceeded both suggested stops after reversing less than 1 point shy of the first profit target.

MU: Fell about halfway to T1 before reversing in mid-April before exceeding any reasonable stops.

NFLX: Although suggested stops were not provided, NFLX has exceeded my minimum 3:1 R/R based on the final target listed for the trade at the time. However, this one will remain on my radar as one a major swing short candidate in the near-future.

NTRS: Came within about 1% of the first target before reversing and exceeded any reasonable stop (none suggested).

ORLY: Reversed the day following the breakdown before reversing & exceeding any reasonable stops.

PAA: A snafu/oversight caused me to list the sole price target at the actual support level of 47.15 vs. my usual M.O. of setting the price target slightly above support. After falling about 14% from entry, the stock reversed 11 cent or 2/10th of 1% above the price target, bounced & never looked back.... close but no cigar.

PRAA: Hit & exceeded the first target back in February before reversing about halfway to the second target. Although prices are not far above entry, the recent price action is just too sloppy to make heads or tails of the next direction in this stock and as such, PRAA will be removed from the Active Trades category in order to make room for new trades with more attractive R/R profiles.

RAD: Fell within 16 cents of the first target before reversing & exceeding the suggested stop level.

SNDK: Fell immediately upon entry but found support (twice) exactly on the primary uptrend line. This one dropped off my radar as I stated that the exact targets would follow although I was looking for a preferred target about 10 points lower on this short trade. The stock fell exactly 9.15 in just a matter of day but since no follow-up posts, with price targets (the first would have likely been the primary uptrend line that was hit), I will consider this trade a failure as the suggested stop from the original post was eventually taken out.

SPB: Failed to reach any target level & has exceeded any reasonable stops.

SSI: Fell just shy of the target before reversing & exceeding both suggested stops.

SUSS: Bought out shortly after breaking below the uptrend line & triggering an entry, exceeding any reasonable stop.

SYNA: Very sloppy price action following the various entry criteria and so it's not very clear if an entry was ever triggered. Regardless, I am counting this as a failed trade since any reasonable stop would have been exceeded.

TAN: Prices reversed just shy of the sole profit target in mid-Dec before exceeding any reasonable stop.

WFC: Exceeded the suggested stop level in late May.

XOM: Exceeded any reasonable stop.

YELP: Reversed almost immediately after entry, exceeding any reasonable stop.

YUM: Came within 1 point of the first target before reversing & exceeded any reasonable stop.

Z: Hit the first target back in late 2013, continuing about halfway towards the second & final target before reversing trend & going on to new highs.

 

 

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Jul 9, 2014 6:52pm|Categories: Completed Trades - Short|Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |Comments Off on Short Trade Ideas Updated