So apparently VIP reported earnings last night (I know, I didn't do my homework). It opened at $91, down oh, just 3 or 4 dollars from yesterday's close. Ouch. Hmmm, I guess this explains the selling off in heavy volume the last 2 days. But it recovered quickly and had a strong day, finishing at the top of the trading range.
I shorted a few shares of HOG today, based on candlesticks. Back on 3/29 it put in a doji in an oversold condition and ran up for a couple of weeks. Wed was a large bearish day while in oversold stochaistics, so I decided I would try to short it this morning. I waited 30 mins after open, and it was still down at 60.90 where it had been for the past 15 mins or so. I thought about putting in a limit order for 61.30, which is what it opened at, but decided that was being greedy, so I put one for 61.00 and it filled later. Then it proceeded to quickly run up: 61.10, 61.20, 61.30, ... 61.60! Great. My stop is 62.38 which is the high from Wed. It came back down to close at 61.48, only 18c up. Another doji and still oversold.
Another short I have started moving today. My trading buddy has had SRSL for a few weeks. As I'm reading about candlesticks and looking at the chart, I noticed that it had a bearish engulfing day on 4/5. So the next day I sold some short at 14.11. It went down further, but recovered and went positive, which this stock tends to do. Today it sold off 4%, although it did recover some, so I'm not sure if the 13.50 level will be support. If it's not, the next level looks like 12.80 and then 11.20.
I shorted a few shares of HOG today, based on candlesticks. Back on 3/29 it put in a doji in an oversold condition and ran up for a couple of weeks. Wed was a large bearish day while in oversold stochaistics, so I decided I would try to short it this morning. I waited 30 mins after open, and it was still down at 60.90 where it had been for the past 15 mins or so. I thought about putting in a limit order for 61.30, which is what it opened at, but decided that was being greedy, so I put one for 61.00 and it filled later. Then it proceeded to quickly run up: 61.10, 61.20, 61.30, ... 61.60! Great. My stop is 62.38 which is the high from Wed. It came back down to close at 61.48, only 18c up. Another doji and still oversold.
Another short I have started moving today. My trading buddy has had SRSL for a few weeks. As I'm reading about candlesticks and looking at the chart, I noticed that it had a bearish engulfing day on 4/5. So the next day I sold some short at 14.11. It went down further, but recovered and went positive, which this stock tends to do. Today it sold off 4%, although it did recover some, so I'm not sure if the 13.50 level will be support. If it's not, the next level looks like 12.80 and then 11.20.
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