Made A Quick $200 On A Short Trade
Yesterday, I got alerted via email about a great potential short trade where a small company had gone up 400% in three days. The technicals were looking great for a potential correction. I shorted 600 shares of SIL at $3.60. I put a stop at $3.75 in case it shot up for some reason. As the afternoon continued on, the stock started dropping. As it dropped, I moved my stop lower and lower to lock in some profits. The stock went as low as under $3.00 but it bounced and hit my stop at $3.22. In this market, it’s nice to make a quick $200 on a day trade!
You can be alerted of these potential moves also. I’m a subscriber of TIM Alerts which sends out daily notices of stocks poised to either breakout significantly higher or stocks poised to correct sharply. Either scenario can result in some serious gains. I’m loving the subscription.