Is this a short positon cover point?

[Mike]

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.



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.

[barbados11]

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

Pablo

[Mike]

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

Pablo

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.

[barbados11]

Thanks Mike. Good luck with the data feed.

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.

[Mike]

Thanks Mike. Good luck with the data feed.

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

[barbados11]

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

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.