MLNX def had 105 target which was follow up rise after e/r and pullback there , traded shares on this one thanks to Jimmie mentioning last week :-) (hope he faded)....not sure but 98 doable but sure surprised me that it continued so much , as always if you miss the runnup always get the short ( like LNKD , hehe)
was showing the signs last week , pretty easy trader really .
GOLD this was a nice scalp fade today from near $100 with @ RSI70 and was following last week popped after e/r , stocks very often pullback from century marks & "even numbers" especially when RSI that high
errr, hate mondays , this could hve been a $1-2k fade easily ...but had a really good weekend!! :-)
This stock trades about as close to the hip with POG or GLD as you'll find , makes great moves :
KSS ...one last chart , after catching RAX gap up short last week, was looking at KSS following day (?) The best thing to learn about fading/shorting is make sure you have longs willing to sell with you which they;ll often do after making +30% on the stock , for who wouldnt sell then ? So after an intial squeeze that is what you fade ...
While others look for longs much of the time just in my nature to look for fades when stocks are gapping uo to all time highs or near them (and toppy market), you just have to be right there for the am gap & fade.
* If KORS gaps up big tomorrow will look to do the same ...here you see shorts crying early then late shorts fading smiling later when proftakers from much lower down come flying to lock it in;-)
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