Is this a short positon cover point?

The NASDAQ undercut a prior low. This is often a place where a rally (short term or long term) begins. It is usually best to cover short positions when your stock undercuts a prior low or the market undercuts a prior low.

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I have no expectation that a long term rally will or will not begin here. CANSLIM investing is rules based investing and following rules such as this will make money in the long term.

Thanks Mike. Does this mean you covered CTRX? If not why please?

Pablo

[QUOTE=barbados11;27479]Thanks Mike. Does this mean you covered CTRX? If not why please?

Pablo[/QUOTE]

Pablo,

I am having data feed problems that is causing me to not be able to accurately monitor the market. I am still holding CTRX short but probably should have covered at the close yesterday. It was this morning that I noted the NASDAQ undercut of the prior low. I am also short CREE and NUS but probably not for long. I am long AEM and FB.

Thanks Mike. Good luck with the data feed.

[QUOTE=mscott;27480]Pablo,

I am having data feed problems that is causing me to not be able to accurately monitor the market. I am still holding CTRX short but probably should have covered at the close yesterday. It was this morning that I noted the NASDAQ undercut of the prior low. I am also short CREE and NUS but probably not for long. I am long AEM and FB.[/QUOTE]

[QUOTE=barbados11;27481]Thanks Mike. Good luck with the data feed.[/QUOTE]

I ended up covering CREE and keeping the rest of the positions. CREE might be reentered if it rallies to the 50-day.

[QUOTE=mscott;27483]I ended up covering CREE and keeping the rest of the positions. CREE might be reentered if it rallies to the 50-day.[/QUOTE]

I closed my CTRX short yesterday and entered NFLX long at 408.

Unfortunately, I was away this morning and missed the shorting opportunity in CREE. Hope you were able to reenter it.

Edit: CREE only got to the 10. Watching.