The BBY (Best Buy Co) short trade gapped below the sole target to open at 25.91, where any standing limit orders to cover would have filled, giving this trade a 30.7% gain from entry exactly a week ago today. Consider booking full profits as this trade will now be considered completed. Previous & updated static charts below. Click here to view the live chart of BBY.
BBY daily Jan 9th Although BBY (Best Buy) is quite a bit past the breakdown level, the odds for a move down to the 32 area look good enough to initiate a short entry here around 37.40 with a stop not higher than the 39.50 area. As such, BBY will be added a both a trade setup (preferably with an entry price of 37.30 or higher...current price is 37.40 as I type) and a sole profit target of 32.20. Click here to view the live chart of BBY.
As expected, it didn't take long (less than 24 hours since yesterday's post) for the retail stocks to break down. In addition to the four existing Active Short Trades that are components of XRT (COST, RAD, ORLY & NFLX), four additional retail stocks have been added as new trade setups so far today: ABG, SSI, BES, & CVS. (note: Email notifications were not sent on all of these but they can be viewed by visiting the site). XRT Retail ETF breakdown, Jan 9th There are still about a dozen retail stock on my watchlist that have either recently broken [...]