IMOS has now hit the last "unofficial" target that i added for anyone who wanted to squeeze a little more juice from the short trade. as this marks a 29.9% gain from entry, plus the stock looks ripe for a bounce (i might even play a long-side bounce), you should consider booking full profits if you have not done so already. previous & updated charts below:
i just received an email from someone who took the recent IMOS short but missed covering when the target was hit. for anyone else that might also still be in the trade, you might consider a stop above this downtrend line. the last chart below also shows an additional "unofficial" target that IMOS could very likely hit if it turns down here soon at the downtrend line. notice how IMOS is now re-testing the top of a thin zone on the volume at price histogram (red & green bars horizontal bars on the left of the chart). the IMOS short was [...]
sorry for the lack of updates today. i had to take one of my kids to a couple of dr's appts this morning that turned out to be an all-day event and is still going. as far as updates on the existing trades i'll try to get caught up to see if there are any highlights but a few shorts that i'm in stand out today. first off is IMOS, which is up big apparently on a barron's article that came out over the weekend. if i was in front of my computer early when the stock was up 17% i [...]
if this 4 hour uptrend line break-down sticks (candlestick closed below), it should user in a new wave of selling that takes us to T1. although this has been an active trade for a few days, i will re-categorize it as a set-up as well since this TL break offers an objective entry. updated 4 hour & original chart below. remember to adjust your position size accordingly with each trade. the first target (only one at this time), if hit, would be about a 30% gain from this level and if you look at the recent volatility in this stock, you'll [...]
another recent member of club parabola. i was a little too early on shorting this one a few weeks ago and was quickly stopped out but i re-shorted it today. parabolic moves like this more often than not end up giving back a lot of the latter-half gains in quick order. trades like this are only for very nimble, aggressive traders so DYODD and set your stops according to your own entry and trading style/rules if you take it. personally, i like to use small positions with relatively wide stops on trades like this but no less than a 3:1 gain/loss [...]
the following trades were stopped out last week: IMOS, BBBY, INTC, SPG, IYR/SRS, XLK, UPS, LSI. i'm still watching some of these, particularly SPG and IYR for re-entries.
if you took the IMOS short, please be aware that i added a new target and we are at it now. my original chart (1st below) was shown using a 2-day time period. my updated chart (2nd) is a daily chart and shows a gap not shown on the 2-day chart. we are at that gap now which is an object area to take some/all profits, especially with this trade already up 16% from entry. the original T1 is now T2.