Trade Plan: BUY (before market close)
WE PUT A HOLD (NO TRADE) AT END OF DAY
Here is what happened:
(click to expand)
Commentary: Because the price action went up 6% from market open to end of day we placed a HOLD on the trade in our trading room. It wasn’t worth the risk even though we forecast they would beat on estimates. They did beat by 4 cents EPS – and it popped up % at close./.. .and then fell after the release was digested. We don’t feel good when a move is “too” priced in and thus the reason for the HOLD.
Here is a the trading room clip for those members who did not make it in. No one traded this event. Sometimes a no-trade is the best possible trade. For those learning the trading game – this was a good exercise in restraint. Check out our end of day call….
Jump Zone Profit: 0% (no trade)