Marketsurfer says short shake shack

[Magna]

Guys, let's return the discussion to the topic of this thread and please take all the peripheral conversations (and there are many) elsewhere. Thanks.

 

[Nine_Ender]

Yes I did! pg 12 of the thread: http://www.elitetrader.com/et/index.php?threads/marketsurfer-says-short-shake-shack.291104/page-12

Yes, I knew a while back some posters had mentioned this, and I replied that aspect was very important in my opinion to this short trade idea. Others ( particularly the op ) seem to never mention this aspect though. Tracking SHAK is fun, reminds me of dot com ipo's. But I still don't have a good feel for who owns it and what percentage is locked down. If someone knows this, please post, I think this thread has tremendous educational value for all of us.

 

[debitspread]

Turns out he had the right idea... sadly, let the h8ers talk him out of a good position...
SHAK Bid: 88.65 Ask: 88.87 Last: 88.67 Chg ($): -4.19 Vol: 500,768

 

[Chris Mac]

Turns out he had the right idea... sadly, let the h8ers talk him out of a good position...
SHAK Bid: 88.65 Ask: 88.87 Last: 88.67 Chg ($): -4.19 Vol: 500,768

Nope, he was short when charts told to be long and out when charts told to take profits and/or be short.
Ugly trade. But educational, because you learn what not to do :
bad timing
average down
bad stop loss

CM

 

[debitspread]

Nope, he was short when charts told to be long and out when charts told to take profits and/or be short.

I'm not a chartist so I can't speak to that. But trading in public tends to result in too many chefs in your kitchen.
SHAK Bid: 86.30 Ask: 86.69 Last: 86.58 Chg ($): -6.28 Vol: 761,097

 

[Chris Mac]

I'm not a chartist

You should. Surf too.

But trading in public tends to result in too many chefs in your kitchen.
SHAK Bid: 86.30 Ask: 86.69 Last: 86.58 Chg ($): -6.28 Vol: 761,097

I agree, that s why this is a mistake to expose a plan A and not a plan B when you want to "trade in public". It s never a "one-way" game.

CM

 

[marketsurfer]

We have reshorted at $86.70--75. Single entry trade. Holding.

surf

 

[hajimow]

I will be able to show you all the good entry and exit points one year from now using the chart. All my trades will be profitable.

 

[Buy1Sell2]

Everyone needs to realize that the correct stop on this trade was 73.00 and no higher. There was no short signal whatsoever on the chart to warrant this entry either. Now-- the price has completely escaped the upper Bollinger Band and we have someone wanting to bail if we just go .48 higher. Only a fool would stop themselves out now.

Debitspread, I believe it was I who recommended holding slightly longer---

 

[Buy1Sell2]

I would now though, exit.