We had three short alerts yesterday. I dismissed the "F" short because of the large dividend that was decided overnight. Such decisions usually push prices lower without really affecting the value perception.
I also dismissed the TWTR short as I believe TWTR has a good business franchise that might be very attractive to a large corporation wanting to leverage the platform. But the EV pattern does not show accumulation.
The only stock that I shorted was VRTX. I only shorted 1/2 a position.
EDU publishes its earnings on Tuesday next. I will probably cover the short position today or tomorrow in weakness.
Below is the list of trade ideas. You can note that for the "Bounce after a Breakdown" I added the minimum price for which we could still short the stock on a bounce and get a R/R higher than 2.
Let's take the TSLA example: TSLA broke down yesterday on strong volume. We have a 10.7% probability that TSLA will bounce back to 208.29 today. However, if I am eager to short, the limit entry price is 200.52. This means that any price between 200.52 and 208.29 can produce good results for a new short trade. This is a wide range. In fact it is a range that is wider than my usual 2.5% stop level. Hence, timing a good entry is everything for these type of trades.
Breakouts and Breakdowns are easier because you are carried by the trend and once the stock settles, it is comfortable to manage the position. This is the case with VRTX.