Well, today was certainly a different day. The entire market gapped up on
FISCAL CLIFF NEWS!. So much so our watch list did not have any short
candidates. NONE.
But did it matter? BULLS or BEARS ....bring it on.
We still found a couple of shorts and MADE MONEY !!
Short GE From our watch list.
Entry 22.39/Stop 22.49
Target 1 22.29 1/2 +.10
Target 2 22.19 1/4 +.19
Target 3 22.00 Never hit . We covered 1/4 for +.14 EOD.
risk/Return .10/.19 190%
Trade 2
Short TIBX Morning add on.
Entry 22.20/ Stop 22.25
Target 1 22.10 1/2 +.10
Target 2 22.00 Never hit .Covered 1/2 for +.10 again.
risk/Return .05/.10 200%
We did not want to take big share positions today.
Reasons: Huge gap up in the morning could have gone either way.
Also we were coming from a good two week vacation.
Thirdly,today was the first trading day of the year. We wanted to finish the day
green for psychological advantage.
This is where risk management/money management and trade management
all come in to play. We played defensively.Walked away with a little bucket
of water from the river.
