Trade 1
Short VRTX From our watch list.
VRTX had a classic gap down at open today.
Entry 45.15
Stop 45.30
Next minute we were stopped out for -.15.
But the pattern still indicated massive selling.
Second entry 45.00
Stop 45.30
Target 1 44.50 1/2 +.75!
Target 2 44.00 1/4 +1.00
Lowered stop to 44.50 more +2.00
We covered last bit +1.53
Net trade risk/ Return .30/2.00 = over 600%
Very fast trade. Had to be on full alert ready to pull the trigger.
See how we recovered from a losing trade and made money on
it!. Again this is where trader psychology comes into play.
Learn it.
Lesson: The second trade was completely independent of the
first.
Short CRUS CRUS-hed! took a huge tumble after reporting worse than expected
earnings.The kind of news that can give us a short trade.
There was too much going on with CRUS we simply waited out for
our entry while finishing up with VRTX. Both are very volatile stocks.
Entry 33.55
Stop 33.60
CRUS just collapsed under our entry.
Target 1 33.25 1/2 +.30
Target 2 33.00 1/4 +.55
Target 3 31.50 We were looking for a climactic sell off.
Didn't happen.
1/4 +.19
Also it was EOD. We expected a big short covering.But it dropped
to a new low 32.06!
Were we upset. NO! The river will be there tomorrow just the same.
We had our fill for the day.
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