Quote from 1flyfisher:
The gap up had me shorting, I shorted the gap open and the ensuing run up. It was the smart and profitable trade. CFC was up some 28-30%? It was never going to hold that run up. Closed the position that day.
It was a successful trade.
The gap up open was at $11.69. The intra-day low was $10.42 (which you didn't get). Assuming you were close, you're going suggest $1.20 per share (weathering the "ensuing runup") as a SMART and profitable trade?
Yep, it's better than a loss, but it's not even one ATR and you would have had some drawdown. Not to mention, not all gaps fade. Oh, smart.
Is your ego that fragile you have to broadcast such things?
Attached is a chart. A sorta panoramic view.
Just think, had YOU shorted on a break below $40 and remained short to the present, why, you'd have something to write about. Not to mention NO tax liability.
Shorting a stock that's moved from $42 down to $10 is akin to buying a stock that's run 400%. Not to much of a risk/reward ratio. And 42 to 0 and 10 to 0 are both 100%. Nominal of course.
Yesssssssssss, you are smart. You can tell from the mouth. And talented. It takes talent to get wet in a rain storm.
Shall we go through the well lit Lowe's stores versus the dark, dank miserable Home Depot's and the correlation to stock pricing OR, do you wanna let that sleeping dog lie?
