The following short trades will be moved to the Completed Trades (Short) category as they have either exceed the previous suggested stop (or any reasonable stop, if none suggested) or the technicals no longer warrant remaining short at this time. Several of the Active Short trades still look to offer objective entries or add-ons at this time with others trading right at or just above key support level, which may offer another objective entry or add-0n once those levels are taken out. I plan to highlight some of the more promising short trades soon in addition to adding some new trade [...]
The TASR (Taser Int'l Inc) short trade hit the second price target for a 30.5% gain about three weeks ago and has been consolidating in what appears to be a bearish pennant continuation pattern since then. Therefore, a break below the pattern and especially below the T2 support level would likely be the catalyst for the next leg down in the stock and a relatively fast move towards the final target (T3 at 9.90). Note: short targets are set slight above support so give it about 5-8 cents below T2 for those preferring [...]
The TASR (Taser International Inc) short trade has now hit the second target, T2 at 12.70, for a 30.5% gain from entry. Consider booking partial or full profits and/or lowering stops if holding out for T3, which remains the final target. Click here to view the live chart of TASR TASR daily May 7th- T2 hit
TASR (Taser International Inc.) will be added as both an Active Short Trade here around 18.27 as well as a Short Setup with an entry (or add-on) to be triggered on a break below this ascending channel. Normally I would wait for a breakdown below this ascending price channel before establishing a short position but with TASR recently failing to take out the previous highs put in place back in late 2007 (bearish) and also recently rolling off extreme overbought levels on the weekly chart (see below), my plan is to establish a partial short position here while adding to my [...]
The following short trades will be removed from the Active Trades category. Some of these trades may have already hit one or more profit targets while others failed to reach their price target(s). Many of these trades have also exceeded their suggested stop level while others may not have but in the long overdue process of cleaning up the Trade Ideas, I will be removing any trades that no longer look attractive from a technical perspective in order to make room for some new trade ideas. ALXN, CBK, DDS, DHI, EWJ, HLF, JPM, PHM, TASR, THI, TJX, VAL, WFC, XHB, XLF, [...]
For those in the TASR short trade, please note that the first target has now been hit for a 15.5% gain. Therefore, consider booking partial or full profits and/or lowering your stops to protect gains. T2 continues to be my preferred swing target but for those new to the site, price reactions (a pause or temporary reversal) are usually expected off the earlier target levels when multiple targets are listed on a trade. More active, shorter-term traders might target only the first target to book the quick gains and move on to the next trade while most swing traders will often [...]
The TASR longs might be stunned if this bearish rising wedge breakdown plays out. TASR will be added as an active short here at 8.94 with the preferred swing target at 6.62 (T2). stops for those targeting that level will be on a move over 9.60 while more active traders targeting T1 should consider a more aggressive stop.