Trade Plan: SELL (Before Market Close)
Here is what happened:
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Commentary: Solid win here on the short move, even though they beat on their earnings by a huge amount and forward guidance for next quarter though a little weak wasn’t that off the mark. We had it as a short which was the right call for this trade. The market is very dodgy for 2016 and traders are looking not at performance today as much as ANY hints about future problems. Its feels like bear country. Anyway we are happy to take our profits on this one and count them by the fire. We did 2 trades both a success (we dipped back in on the retrace) and though we wanted to trade the PUTS for April – they were too expensive for our strategy (even though the April out of the money puts did 80% plus gains)
Jump Zone Profit: 10.5%