The following short trades will be removed from the Active Trades category. Some of these trades may have already hit one or more profit targets while others failed to reach their price target(s). Many of these trades have also exceeded their suggested stop level while others may not have but in the long overdue process of cleaning up the Trade Ideas, I will be removing any trades that no longer look attractive from a technical perspective in order to make room for some new trade ideas. ALXN, CBK, DDS, DHI, EWJ, HLF, JPM, PHM, TASR, THI, TJX, VAL, WFC, XHB, XLF, [...]
If at first you don't succeed... CBK was a recently stopped out short trade which was added at the open on Jan 15th, only to be stopped out after being caught on the wrong side of a news-induced gap the very next day for a 75 cent loss. The stock went on to flounder around for the last couple of months, going pretty much nowhere after making a new high on the day of the gap but now I am adding CBK back as an Active Short Trade at current levels (6.17). Notice that nice gravestone doji candlestick put in yesterday [...]
CBK has just made a new high on the day and will be consider stopped out and removed to the completed trades category. CBK is on watch for possible re-entry soon pending an objective technical sell signal.
So far, CBK had the typical over-reaction spike shortly after the open, peaking at a high of 6.24 before falling back sharply. However, the stock is hanging in there so far and may or may not take out that level and move higher. As per my trading plan, any move over 6.24 will now be my stop (to be lowered if the stock were to fall from here). However, as CBK is a thinly traded stock, I prefer to use a manually sell order vs. a standing stop-loss order, which is likely to be run by the market makers when the [...]
CBK raised guidance after the close yesterday causing the stock to trade up (albeit on very thin volume) in the after-hours session. Currently the stock is indicated to open between 6.12 - 6.25 (pre-market bid/ask). I've received a couple of questions on the stock so here are my thoughts on the stock. The opening price yesterday was 5.51 so I will consider that the entry price. Using a 3:1 R/R (risk to reward ratio) based on the previously stated preferred target of 3.80 (T3), that would give a suggested stop of 6.08 (entry price of 5.51 - target of 3.80 = [...]
Barring any gap of more than 3% in either direction, I will be adding CBK as an active short trade at the open tomorrow. As seen in the daily chart below, CBK has recently broken down from a bearish rising wedge pattern and while the stock was down big earlier in the trading session today, it managed to recoup a good percentage of it's losses and close at a level which still offers an objective entry even for shorter-term/active traders targeting T1. As small as that distance looks when eyeballing the chart, keep in mind that CBK has put in a [...]