Posts Tagged ‘ funky psychology ’

Funky Psychology

Jun 30th, 2009 | By | Category: Gilbert Mendez's (Gman's) Blogs
I traded HES on the short side yesterday and came in with an overnight short expecting a crack through the $54 level. It was looking pretty good in premarket as some small dopey prints went off around $52.57 and $53.01. I was hoping for a pop near the 54.60 dream short level where I wanted to lay into the position. I wasn't expecting the stock to trade much higher than 65-70 cents at all so I offered heavy. I was okay risking $350 on that position and in fact I managed to close it out (near the highs of the day) for that $350 loss. Shortly after covering I realized what had just happened and got back in the trade and chopped up Read more [...]