Monday, September 13, 2010
Today's Trading Recap - VISA Screen Shot
With the broader markets gaping up 1% from Friday's close, we were able to identify solid short arguments based on relative weakness. V which we traded late last week on a UBS downgrade continued showing weakness today. As discussed in the am newsletter, we were looking for stocks going plus to minus on the bell. We shorted V when it was just going negative at the 67.75. Basically made $2.50 on the whole piece as we shorted in and out while holding a core position the whole way. Best covers were on partials later in the day at the big round level test of $65.00. Today's Low of 64.90 will be a entry for shorts possibly moving forward later on in the week. A days pay was locked in at 10:10 am est.
All trades were called and displayed in the Juggernaut Virtual Trading Room.