Shorting MCD (McDonald)

11:44AM: MCD is still at $66.38.

I do not understand why people are buying at this time and at this price. They may be saying the exact same thing above me. :p

I added the same size at 66.39, and I am going to put $.20 from this morning profits to protect this.
 
Quote from riskfreetrading:

11:44AM: MCD is still at $66.38.

I do not understand why people are buying at this time and at this price. They may be saying the exact same thing above me. :p

I added the same size at 66.39, and I am going to put $.20 from this morning profits to protect this.
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MCD went down to below $66.00, and I moved my stop on the added size to profitable area. This added size is now a free trade, with a guaranteed bit of profit as long as MCD does not gap up during ongoing trading session.

So far, I have the long's balls.
 
Quote from riskfreetrading:

12:24PM: I re-entered the added size with MCD at 66.49.
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I just took this off at 66.39. Small profit of 0.10. I plan to re-enter on restest of high if any. If no retest of high, then my current short will be working in the right direction.
 
Quote from riskfreetrading:

I just took this off at 66.39. Small profit of 0.10. I plan to re-enter on restest of high if any. If no retest of high, then my current short will be working in the right direction.
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1:21PM: re-entry at $66.74
 
Quote from riskfreetrading:

11:44AM: MCD is still at $66.38.

I do not understand why people are buying at this time and at this price. They may be saying the exact same thing above me. :p

I added the same size at 66.39, and I am going to put $.20 from this morning profits to protect this.
More...

$0.20? ROLFMAO you are hilarious. Who the hell plays a $66 stock to make $0.20/share. Seems to me that you are chicken shit short.

So far, the trend is working against you. MCD had a $2 pop. What does that tell you? It means its not done yet and you are still shorting in an uptrend trying to be a hero. You've made 3% for all this "work" and gave up commissions on 4 round trips. All that slippage and commission works against you. I'd say you are more like +2.4% up if you are playing with small shares.

Whether you realize it or not, you are going to get chopped to death and the bias is still up. The blow off tops of yesterday are not going to look like the blowoff tops today.

You are better off shorting a downtrending stock than attempting to pick a top on a strong leader. Hell, you were better off buying an index ETF and holding. For example SPY up 2.5% since Friday.
 
Quote from athlonmank8:

Those questions (and the answers) don't mean SHIT in trading.

Everyone thought wheat was expensive at $6 a barrel. What do you think they thought when it was @ $12?

That logic just doesn't work.

Stocks are just commodities. Game of hot potato
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MCD, 67 HOD. That a boy. If they raise prices on the dollar menu they'll be a hit.
 
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