as i have been working on getting the trade ideas cleaned up, i noticed the following short trades have all been stopped out as per the previous posted suggested stop criteria for each trade and will be moved to the completed trades category: GCO, GDX, , IMGN, IYR (hit T1, then bounced and stopped out), JJC (also hit 1 before bouncing & triggering a stop), M (hit both T1 & T2 before bouncing & triggering a stop), TIBX, & IBKR (which actually hit its profit target a while ago but i had made some additional stop suggestions for anyone who did [...]
here some updates to the active short trades. any active shorts not listed here still look fine technically but feel free to email me if you have any specific questions on a trade. [...]
the IBKR short trade has now hit that critical resistance level so a bounce is likely here. therefore, you might want to book partial or full profits, depending on your trading plan and consider adding back those shares on a break of that key level. as posted previously, there is essentially no support if/when IBKR makes a solid break below that level so i may add some additional targets to the trade soon. it would also be a caution sign for those with accounts at interactive brokers if the stock breaks below and continues lower. previous chart first, updated last.
IBKR (interactive brokers) as well as the rest of the investment brokerage sector remains in a very precarious technical position. IBKR seems to be bear flagging above critical support and i still believe that this sector, as well as your own individual investment broker (assuming they trade publicly) should be closely monitored. IBKR would trigger a short-entry on a break below this bear-flag, as marked on the daily chart.
if you missed the post on the investment brokerage sector last week, you might want to review it by clicking here. here's the updated chart showing that this sector continues to be in near free-fall mode, with the entire sector down nearly 24% in less than just about the last 7 weeks. i was going to post some of the individual charts of concern as i'd imagine the majority of people reading this post have money at one or more of the following brokerage firms. however, since most of the charts look very similar, here are a few of the names [...]
For optimal viewing, choose the "Watch on YouTube" option, then choose the HD quality and Large player settings the bottom right of the video window. MAY 30th UPDATE: PLEASE NOTE THAT SEVERAL OF THE TRADES ASSOCIATED WITH THIS VIDEO HAVE ALREADY BEEN COMPLETED AND ARE NOT LONGER ACTIVE TRADES. THEREFORE, IF YOU CAME HERE VIA CLICKING ON A SYMBOL IN THE ACTIVE TRADES CATEGORY, PLEASE GO TO THE RIGHT OF THE PAGE AND CHOOSE THAT PARTICULAR SYMBOL FROM THE "POSTS BY SYMBOL" DROP-DOWN BOX TO SEE IF ANY UPDATED POSTS HAVE BEEN MADE ON THAT TRADE. I EXPECT TO HAVE THIS [...]