I'm certainly caught worse than flat-footed this morning. Not only am I holding 3 shorts and no longs into this gap up, but I only have one long on my watch list versus 12 shorts. The good news is that the shorts probably won't trigger... which, again, is why I only take positions after they start moving in my anticipated direction.
I suspect that the gap up will fade but that's just a gut feeling. I can only predict the past with 100% accuracy.
Oh, and I don't plan on adding any more swing trades until after the Fed decision on Wednesday...
Currently holding:
Long - None
Short - RHAT, SNDK, TARO
Looking for swing trade entries in:
Longs - SIE
Shorts - AUO, CYMI, FFIV, FLSH, ICOS, NTES, NVLS, NYB, ONXX, PDLI, SLAB, TER
Potential day trades:
(From Briefing.com)
Gapping Up/DownGapping Up: EMRG +16.5% (potential case of mad cow in U.S.), ACTU +14% (Barron's story), TASR +7.6% (contract news), ELN +7% (FDA approves Antegren BLA for Priority Review), DOVP +4.7% (FDA agrees to lift the clinical hold on ocinaplon), MO +4.2% (favorable court ruling), AKAM +2.9% (names former former Oracle exec as Chief Marketing Officer)... Gapping Down: WPI -8.3% (guides below consensus), TTN -6.6% (LMT merger officially terminated).
Nice call on holding those shorts over the weekend..........(Sarcasm). Did you think there was going to be a terrorist attack or something. I don't get people who sell stocks/short on fridays because they expect some sort of attack. Why would terrorists attack over a weekend when they could kill more people on a weekday? Good luck covering today.
My entering shorts last week had absolutely nothing to do with anything besides the charts. Go back and look at what I wrote on Thursday & Friday. I don't try to guess at news, or predict events.