I spent some time pouring over the charts last night looking for trade ideas. In doing so, I came up with numerous candidates, both long and short. Some of these trade ideas are already listed as Active Trades on the site and/or Trade Setups while many are not. I'm going to start with the short trades here & plan to follow up with some of the Long Trade Ideas soon. Some of these trades are currently offering objective short entries at current levels while others are still setting up in bearish chart patterns, awaiting a formal breakdown or sell trigger. I [...]
i short a little SHLD today but would have preferred it yesterday on that tag of my lower resistance/bounce target shown by the arrow. still has plenty of downside before the first two targets though but if you take it, i'd suggested keeping your position on the lighter side as per my recent educational post on beta adjusted position sizing. stops over recent highs (over the resistance line shown by the arrow).
SHLD covered Posted by: rp on the 28th of Nov 2011 at 12:50 pm didn't think i'd get another shot at it today but just covered SHLD short at 58.57 as the short-covering rally was faded pretty quickly today and it's basically back to that final target i missed on friday. probably has more downside from here but a target is a target and i'm going to look for a trade with more meat left on the bone to redeploy that capital. staying short after getting 20 pts in about 3 weeks is the epitome of that whole "bulls make money, [...]