Swing Trade Review: Big Profits on our Short in RJET!
Oct 26, 2008 Small Cap Stock Picks, Technical Analysis
It was about time we caught some negative volatility on this heavily overbought stock yet it was an great call that we covered our position while we were ahead as these stocks are very volatile and rallied strong into the close after its morning drop.
I alerted Black Service members to go short at $12.43 Wednesday afternoon on the breakdown of the intraday support as you can see on the 5 min 5 day chart below. Thursday price sold off on rumors of OPEC cutting production rates putting us in a nice position for our short and momentum in our favor. Global markets then began to sell off after hours placing us in an even better position now for our move into Friday. RJET gapped down largely yet was showing some signs of strength so i took this as a great opportunity for us to cover our position for a solid 11.5% gain in just 2 days.
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Technical Analysis:
Tags: Day Trading, RJET, swing trading, Technical Analysis















