Trade Plan: SELL (at market close)
Here is what happened:
(click to expand)
Commentary: A perfect double dip. Here is how delicious this trade was. They missed and missed badly. We had the data locked down and felt confident in this… and the price immediately dropped. Bingo, take profit of 6% on trade one… then the price retraced – probably the bottom feeders as the stock was now below the yearly lows… and it went back up (but wait – remember the print on their numbers was terrible. So in the trade room we decided to double dip and we entered another SELL trade which did not disappoint for another 8 points. Yeah!!! (this doesn’t always work but when you see the reality of the numbers – it’s really a no-brainier of what to do…
Jump Zone Profit: 6% (Trade #2 – 8%)