As noted in comments, I made a few trades.
I covered 100 shares of POT at $194.36 (short entry at $208.77) for a $1441 gain (+6.8%). The stock was 4 points from my target, but today’s drop was too good to sit back. I may enter again on a bounce.
I exited 400 shares of DZZ at $29.10 (entry at $26.60) for a $1000 gain (+9.3%). I have to admit, this trade is satisfying considering the criticism I received on entry. DZZ is a leveraged gold short.
I went short 300 shares of NFLX at $32.23. This is a classic earnings breakdown-pullback setup. My stop is above the long bearish candle formed two days ago
Kudos to you on the gold trade! Great traders stick to their convictions…
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Be sure to keep your tight stop on NFLX. I just tried to piggyback on your short idea and Ameritrade said no more shares were available to short. Could be a set up for an explosive short squeeze. I bought some ITM June puts instead, and will keep a very tight stop.
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You’re gold trade was good, no doubt, but the POT trade was even better.>>Must have taken some serious conviction to short such a strong stock into earnings.>>I personally don’t like to hold into earnings and would prefer to sell and re-buy after earnings or just sell ahead of earnings, but none the less… well executed.
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er *your
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Thanks for the tip Stan. NFLX does have big short interest.>>Trader MD: The only reason I held into earnings was I had some leeway until my stop was hit. The stock was at $206 and my stop was $215.>>Thanks Vinay.
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