The following short trades will be moved to the Completed Trades category. While none of these trades reached their final price target, many of these trades did hit one or more profits targets before bouncing & exceeded their previously suggested (or any reasonable) stop level(s). As the charts on some of these trades still remain longer-term bearish, feel free contact me if you are following any of these trades & I will be glad to post or email and updated chart with comments. There are a few Active Short Trades under review that may be removed soon as well but the remainder of Active Short Trades still look very constructive at this time.
ACT- stopped out as per suggested criteria
ALK- T1 (first target) hit for a 13%, 1 -day gain then bounced.
AMZN- T1 (bottom of channel) hit the stock has continued to move higher since.
AVP- T1 hit for a 15.6% shortly after entry. From there, the stock bounced, as expected and has twice since hit the T1 support level again & still remains profitable but will be removed to make room for more attractive trade ideas.
AXP- Although the divergences persist, AXP exceeded the previously suggested stop criteria & will be removed from the Active Trades, possibly added back soon.
CPA- Prices fell about 3/4ths of the way to the first target before reversing and moving back above the uptrend line.
CRM- Prices also fell about 3/4ths of the way to the first target before the stock reversed and moved back above the uptrend line.
NTRI- Exceeded the previously suggested stop shortly after the trade was added.
PM- Hit T1 for a 10% gain, made the expected bounce off that level & has since floundered around. This trade is still profitable & has remained below entry & will likely continue down towards T2 over time but will be removed to make room for more objective trade ideas.
QQQ/QID- Although a suggested stop was not listed, the Q’s and the broad market continue to grind higher. As such, this trade will be considered stopped out and revisited once we get some solid evidence of a trend reversal in the broad markets.
ROST- Hit T3 for a 22% gain, bounced from there and has since moved back above entry & will be moved to the Completed Trades category along with these other trades.
IWM/TWM- Same notes as the QQQ/QID trade above.
SAVE- Dropped about 1/2 to the first target following the wedge breakdown and has moved considerably higher since.
SHW- Closed above the uptrend line (previously suggested stop criteria) on Friday.
SNI- Fell about 90% of the way to the first profit target before reversing an moving well past the entry price, triggered any reasonable stops.
TJX- Fell about 1/2 way to the first target before reversing & exceeding the previously suggested stop level.
TSCO- Exceeded all previously suggest stop criteria.
XLP- Hit T1, bounced, came back to test that support level once more and is now above the entry price & will be removed as the risk/reward is no longer clearly skewed to the short side.