+ $309
Took a moment to contemplate where Iâd place a stop shorting DISCA @ 15.89 and it fell off the edge of the earth as I looked at it.
Called AIPC short in chat as it moved above 33.00. I was unable to short because I had no access to IB. Excellent short, too, over $1.00 a share very quickly. I hope someone made money on that call! (I am very excited because Iâm getting an IB account set up, and I will run it on its own computer so I can have both platforms. This is a great excuse to acquire 2 more monitors as well!)
Short ORLY @ 32.92, covered @ 32.52 oversold (SPY also oversold), for a $200 gain. I regret not adding to my position when it retested the .90âs. I was offering 33.05, and shouldâve just added at market when it stalled there the 3rd time.
Short ORLY @ 32.71, approaching overbought. Couldâve taken profits @ 32.50, but held on. Set target of 32.52 (near LOD), touched but no fill. It came back later and I lowered the target to 32.47, then back to 32.52 since it looked strong there, filled for a $100 gain. It did actually reach 32.46 before bouncing.
Short FCN @ 26.11, pull back from overbought, but still up trending a bit. It fell a small amount, then I didnât like the L2 action at the 20-period SMA, nor the stochastic movement, and I sensed the crowd poised to move in, so I exited at b/e just before it rallied. Offered 26.25, but missed by .03 cents. Then I didn't like the action again and pulled the offer. I was careful with this one because of the wide spread, and the fact that it really had room to move to retest the dayâs high. The 20-period SMA on the 3-min chart was acting like a small trampoline. (This one turned out to be a very nice short end of day, but I was so distracted with phone calls and various issues today that I didnât want to manage more than one trade at once, and I had ORLY back on by then.)
Short DISCA @ 15.58, pull back from overbought, stop @ 16.00 (just above the HOD). It acted nicely at first and I thought I could scalp $50-$100 off it. But then it reached oversold @ 15.52 at the 20-period SMA where it found support, forming a much higher low, so I covered at b/e just before it rallied. Thank you, L2, once again.
Short ORLY @ 32.56 overbought run up (SPY also overbought). Considered adding in the low .80âs and chose not to. Covered end of day @ 32.44 for a $60 gain, using L2 action to get out very close to the bottom of the move.
HOTT reported excellent same-store sales after hours and is squeezing that 20% short interest. Itâs back into the 9.00s. They report earnings next Wednesday, and I can only assume earnings will be solid after 5 months in a row of same-store sales exceeding analystâs estimates. I may actually look to play HOTT both long and short!
I included two charts today to compare how comfortably I trade a stock I know vs. how conservatively I trade a stock I don't know.
Took a moment to contemplate where Iâd place a stop shorting DISCA @ 15.89 and it fell off the edge of the earth as I looked at it.
Called AIPC short in chat as it moved above 33.00. I was unable to short because I had no access to IB. Excellent short, too, over $1.00 a share very quickly. I hope someone made money on that call! (I am very excited because Iâm getting an IB account set up, and I will run it on its own computer so I can have both platforms. This is a great excuse to acquire 2 more monitors as well!)
Short ORLY @ 32.92, covered @ 32.52 oversold (SPY also oversold), for a $200 gain. I regret not adding to my position when it retested the .90âs. I was offering 33.05, and shouldâve just added at market when it stalled there the 3rd time.
Short ORLY @ 32.71, approaching overbought. Couldâve taken profits @ 32.50, but held on. Set target of 32.52 (near LOD), touched but no fill. It came back later and I lowered the target to 32.47, then back to 32.52 since it looked strong there, filled for a $100 gain. It did actually reach 32.46 before bouncing.
Short FCN @ 26.11, pull back from overbought, but still up trending a bit. It fell a small amount, then I didnât like the L2 action at the 20-period SMA, nor the stochastic movement, and I sensed the crowd poised to move in, so I exited at b/e just before it rallied. Offered 26.25, but missed by .03 cents. Then I didn't like the action again and pulled the offer. I was careful with this one because of the wide spread, and the fact that it really had room to move to retest the dayâs high. The 20-period SMA on the 3-min chart was acting like a small trampoline. (This one turned out to be a very nice short end of day, but I was so distracted with phone calls and various issues today that I didnât want to manage more than one trade at once, and I had ORLY back on by then.)
Short DISCA @ 15.58, pull back from overbought, stop @ 16.00 (just above the HOD). It acted nicely at first and I thought I could scalp $50-$100 off it. But then it reached oversold @ 15.52 at the 20-period SMA where it found support, forming a much higher low, so I covered at b/e just before it rallied. Thank you, L2, once again.
Short ORLY @ 32.56 overbought run up (SPY also overbought). Considered adding in the low .80âs and chose not to. Covered end of day @ 32.44 for a $60 gain, using L2 action to get out very close to the bottom of the move.
HOTT reported excellent same-store sales after hours and is squeezing that 20% short interest. Itâs back into the 9.00s. They report earnings next Wednesday, and I can only assume earnings will be solid after 5 months in a row of same-store sales exceeding analystâs estimates. I may actually look to play HOTT both long and short!
I included two charts today to compare how comfortably I trade a stock I know vs. how conservatively I trade a stock I don't know.
