Short Trades Updated

The following Short Trades have either hit one or more profit targets and/or exceed their maximum suggested stop & will be moved to the Completed Trades category, where all associated posts will be archived for future reference.

ADP: After reversing about 1.25% shy of the first price target, ADP went on to slightly exceed the suggested stop of 89.65 on Wednesday for a 2.6% loss. For those that gave this one a little more room on their stops, the stock still looks likely to be headed to both price targets in the coming weeks. At this point, best to set/lower stops to just above yesterday's highs if still short.

AG: Exceeded the suggested stop of a move over 11.80 for a 7.2% loss, failing to reach the sole price target.

USO/UWTI: I had somehow missed the fact that this one just barely clipped the suggest stop of a move above 12.35 on June 8th, as I continued to update the trade since. Although the same bearish case for originally shorting crude oil is still in place, in fact even more bearish since $WTI experienced a failed breakout above the key $50 since on the day the stops were clipped, this trade & all associated posts will be moved to the Completed Trades category with USO stopped out for a modest 2.4% loss (or roughly 3x that on UWTI). For those still short crude, I still favor a move down to at least the second & preferred target at USO 10.77.

GDX: Hit both the first price target for a very quick 5.8% gain on May 19th then hit the second price target for a for a 9.5% (or 3x that in NUGT) shortly afterwards before going on to move above the suggested stop of a 60-minute close above 26.10 on June 8th.

GLPI: Exceeded the suggested stop above 34.40 last Friday for a 2.3% loss. As with most of the short trades above in which relatively tight stops were used resulting in small losses, the same reasons for entering the GLPI trade still look to be in play so for those that gave this one a little more room on the stops, it still appears that a move down to the sole profit target at 31.81 is likely.

As of now, all of the Short Trade ideas have been updated, including FL, which hit the final target earlier today and XLV (which just hit T2 & will be updated shortly after I publish this update. I will review the Long-Side trades & well as look to add some new trade setups over the weekend. As always, if you have questions or would like an update on any of the official or unofficial trade ideas that I have shared, feel free to post an inquiry in the trading room or under the comment section below the most recent update on that particular trade.



Jun 24, 2016 3:24pm|Categories: Completed Trades - Short|Tags: , , , , , , |Comments Off on Short Trades Updated