Friday, February 26, 2010
Intraday Short
I played a quick trade on the long side and have now started a small short position anticipating 2nd half weakness on the day. I will give it room to go higher so I can add short at higher prices. I would be surprised if we kep blasting higher, but the action seems range bound to me so I see the chance of a late day breakout as low.
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7 comments:
Did you see NUVA?
Wow
I just saw it, I usually don't play those kind of big moves on the short side unless they have gone up at least 50%.
The amount a stock needs to go up is arbitrary it seems like depending on the condition of the market.
Last summer the most I saw a stock go up was around 1000%. Usually between 600 to 700% pop and you're good to get short.
In the current market the percentage seems to be no more than 500%.
CIMT 1.25 to 3.50
IFLG 2 to 10 bucks
I think NUVA might go up more on Monday, although I would not buy it. Rather wait for it to go higher and short it.
The news is bullish on the surface. But although we don't know how much more revenue it entails. It's not BS news to say the least.
Maybe a good short on Monday. Of course not as good as shorting a shitty 1 dollar stock going to 7 dollars on pump and dump though
well, it rather looks like that one should go long around lunch and sell into the close as PPT(or rather GS or JPM) are pumping markets into close.
I think the last 5 minutes of the market should be weak. I will close out my short at the close.
Look at WAVX. It's almost at triple top. You should short like 50K shares of this.
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