It frequently happens after a big day like yesterday...a kind of correction back to the average. That being said, my focus today was on short sales. From yesterday we locked in Macy's big gain and today acted on it!
shortsale
M 5000 @ 16.60 = $ 83.000
M 5000 @ 16.20 = $ 81,000
Gain= $ 2,000
Furthermore- I've opened a short position in LYFT that is losing right now but the numbers indicate it will eventually turn out to be correct being that analysis shows 1year, 6 month and 3 month charts of this company projecting downward. It's relative in the industry, UBER, was pounded yesterday with a near 10% loss, it is following up today with another 3.5 % decline as of this writing and is expected to fall further as it exits from IPO protection later in the day and investors will be able to drop shares. It is my projection that the fall in UBER will once again drag LYFT down with it.
*lesson* I probably pulled the trigger too soon on this one and could have set my short at 42+
medium play:
SHORT SALE:
LYFT 2000 @ 40.93
Will also be looking to play a long game with retailers WMT (walmart) and TGT (target) later in the day or later in the week depending on market movement.
shortsale
M 5000 @ 16.60 = $ 83.000
M 5000 @ 16.20 = $ 81,000
Gain= $ 2,000
Furthermore- I've opened a short position in LYFT that is losing right now but the numbers indicate it will eventually turn out to be correct being that analysis shows 1year, 6 month and 3 month charts of this company projecting downward. It's relative in the industry, UBER, was pounded yesterday with a near 10% loss, it is following up today with another 3.5 % decline as of this writing and is expected to fall further as it exits from IPO protection later in the day and investors will be able to drop shares. It is my projection that the fall in UBER will once again drag LYFT down with it.
*lesson* I probably pulled the trigger too soon on this one and could have set my short at 42+
medium play:
SHORT SALE:
LYFT 2000 @ 40.93
Will also be looking to play a long game with retailers WMT (walmart) and TGT (target) later in the day or later in the week depending on market movement.
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