Short Trades Category Updated

The following short trades have either exceeded their suggested stop(s) or no longer look compelling from an risk-reward perspective and will be moved to the Completed Trades category:

ADBE: Has traded slightly above the suggested stop of 77.09 over the last several trading sessions, resulting in a relatively small loss of 2.8%. As the R/R on this trade was way above average (over 10:1 R/R to the final target), in hindsight, I should have listed multiple stops, not just the sole suggested stop 77.09 which was based on the distance to the first profit target at 69.85. With that being said, ADBE still looks promising as a short candidate and may be added back as a new Active Trade soon.

BXS: Exceeded the previously suggested stop of 23.70 on April 13th for a 5% loss from that last entry or add-on (the original entry had already hit T2 for an 18.1% gain).

FOE: Exceeded the suggested stop of 12.15 (for both lots) on Feb 6th for a 1.8% loss the day after the last add-on or new entry was added (on the short entry or add-on to the backtest of resistance, with a stop just above) and a 2.8% loss on the original short entry.

HIBB: After hitting the first price target for a 13% gain back in Sept, HIBB moved lower before reversing & exceeding the suggested stop of any move over 53 back in November.

HMN: Exceed all suggested stops of a 3:1 R/R to one's preferred price target(s).

KBE: Short entry was at 32.31 back in July with a suggested stop over 34.00 which was exceeded in December for a 5.2% loss on the trade. That 34.00 stop level has only been exceeded by a very small margin back then & on a few occasions since. In other words, KBE (KBW Bank ETF) has chopped around in a trading range & basically gone nowhere for nearly two years now. Although this ETF currently offers an objective short entry here at the top of that large trading range, I do not have any current intentions of adding KBE back as a new short trade anytime soon as the charts are a mess.

KRE: This one did go on to gain about 13% from the original entry at 40.11 back in July but since then has bounced back to about flat, with KRE never moving much above the original entry price (a suggested stop was not listed). Essentially, this has been a dead-money trade and although I believe KRE (Regional Bank ETF) is likely headed lower & still offers an objective short entry or hold here at the top of it's 1.5+ year trading range, I am going to remove KRE to make room for more promising short trades with better R/R profile (KRE closed at 41.53 today, giving this trade a loss of 3.5% although it should have been removed a while ago).

LOCK: Exceeded the suggested stop of a move over 14.90 on April 15th for a 20.4% loss.

QQQ: The most recent short trade on the Q's was entered at 107.91 with a stop over 111. On March 18th, that stop was revised down to 107.91 with the Q's going on to exceed that stop for virtual break-even (a loss of 2/10ths of 1%).

NVO: Exceeded each of the suggested stop levels (based on each of the 3 price targets) for a maximum loss of 4.9% (or lower, if only targeting T1 or T2).

XHB: Made it about 2/3rds of the way to the first target before reversing & exceeding both of suggested stops of 31.60 (for a 3.3% loss) and 32.60 (for a 6.6% loss).




Apr 29, 2015 7:28pm|Categories: Completed Trades - Short|Tags: , , , , , , , , , , |Comments Off on Short Trades Category Updated