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CTSH Possible Exhaustion Gap, Stop Exceeded

CTSH daily May 4th I was away from my desk for most of the day but just responded to this question on the CTSH short trade. My reply & thoughts are below: Q: Cognizant Technology Solutions gapped up today (must have good news?) I am still short What are your thoughts - best to sell? A: Although we need to see today’s gap backfilled to help confirm it, today's price action in CTSH has the making of an exhaustion gap. If that proves to be the case, which will likely be confirmed if prices go on to backfill today's [...]

2017-03-08T21:20:30+00:00 May 4, 2015 10:23pm|Categories: Completed Trades - Short|Tags: |Comments Off on CTSH Possible Exhaustion Gap, Stop Exceeded

Shorting CTSH

CTSH daily April 17th CTSH (Cognizant Technologies) will be added as an Active Short Trade here around 61.30 on today's breakdown. The sole target at this time is 56.97 with a suggested stop of 62.48. Additional target may be added. Despite my recent comments earlier today about being selective on opening new position on opex days, I have been working on transitioning away from the broad market shorts into the most attractive individual stocks offering attractive R/R short entries. I am also working to update the trade idea categories by remove the stopped out or less-promising trade ideas to [...]

2017-03-08T21:20:31+00:00 Apr 17, 2015 9:49am|Categories: Completed Trades - Short|Tags: |Comments Off on Shorting CTSH