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ODP Profit Target Hit

The ODP (Office Depot Inc) short trade hit T1, which was the sole profit target, for a 12.4% gain on April 16th. Typically I try to post asap when an active trade reaches a profit target but in updating the trade ideas today, I realized that the final update had not been sent out on the ODP trade previously. As all trades, winners and losers, are archived on the site indefinitely, this trade as well as several others which have either recently hit a profit target, exceeded a suggested stop or simply no longer look attractive from a risk/reward perspective will [...]

2017-03-08T21:20:57+00:00May 20, 2014 12:45pm|Categories: Completed Trades - Short|Tags: |Comments Off on ODP Profit Target Hit

ODP Short Trade Setup

ODP daily March 19th ODP (Office Depot Inc) will trigger a short entry on any intraday break below the 4.45 support level. ODP recently broke down below a symmetrical triangle pattern, bounced off the horizontal support level just below the pattern, and has been backtesting the triangle from below since. If the current market trend was bearish, I might normally establish a short position here on the backtest. However, with the broad market trend still bullish, it would be prudent to wait for the stock to break below support before establishing a short position. As of now, the sole [...]

2017-03-08T21:21:03+00:00Mar 19, 2014 2:40pm|Categories: Completed Trades - Short|Tags: |Comments Off on ODP Short Trade Setup