Friday, November 15, 2013

Trade of the day, SRPT!!!

                     My trade of the day is usually a daytrade, but today it was a swing trade from yesterday. SRPT had a somewhat high short interest after the huge 55% down gapper on Tuesday. When a hammer formed after Wednesday's close on the daily candlestick bar, I knew going long on Thursday's open will be the best opportunity for a nice bounce until at least Friday afternoon. Most shorts don't like to hold positions over the weekend especially after a nice gain from SRPT 55% down gapper. Decided to go long 500 shares of SRPT at 12.75 on Thursday right at the open, and sold it today right before the close today at 14.25 for a $750 profit. Have a great weekend everybody!

If you want to see what I might be trading during market hours and interact with me during my trading days, just follow me on stocktwits or twitter @tradermike9. Thanks!

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