Trade 1 Anything can happen! Three times !!
Short MRVL From our watch list.
Entry 7.39
Stop 7.45
Covered 7.42 loss -.03
It quickly dropped to 7.34 then bounced right back .
Was holding up well which did not bode well with us. So we
lowered the stop to .43 .They were plenty selling going on but
it held ground .We finally exited the trade for a -.03 loss.
Trade 2
Short AAP From our morning gap list.
AAP had already take a beating pre-market. It met our criteria.
We waited for a proper entry that met our criteria.
Entry 64.75
Stop 65.01
Target 1 64.50 1/3 +.25
Target 2 64.00 never hit.
Target 3 63.50
We lowered our stop to 64.85 and we were stopped out 2/3 -.10
So our net gain was +.05 .Nothing to write home about.
See what it did afterwards. It jumped .40 soon after we exited
and climbed to 66.20 EOD!.
Did we trade right? Yes we did. We exited honouring our stops.
Trade 3
River that keeps on giving!
MNST was flat lining all morning. Then news hit the market that 6 people had died after drinking
their beverages. See what it did to the stock price.Investors were running for the door!
We knew the news would have a devastating effect on the price.
Short MNST Entry 51.10
Stop 51.50
Target 1 1/2 +1.60
Target 2 1/4 +5.10
We were stopped out 1/4 +3.10
What a ride! Truly a monster trade!
The whole trade took only 20 min. I was expecting the drop to continue to 38.
Didn't happen. We were stopped at 48.But it came back down and dropped further.
We did not bother! Our bucket was over flowing.
If you noticed I have not given any prices at target 1 and 2. Why? In a mad rush
like this those rules do not apply .You have to use your sixth sense to eye ball exits.
Take what you can.Don't look the gift horse in the mouth.
[These are home runs out of the ball park.Don't get them everyday. :( ]
We will be watching MNST for further downside tomorrow.
CAVEAT: Trading news risk/Return can be enormous both ways.
This is not for the amatures. This is where your trader education
play a major part.
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