INGN was a top Premarket leader this morning, it gapped from 2.80 to 2.93 and then crossed 3 at 3.03 AND THEN it went below 3 AND then it got CREAMED .
I immediately went short at 2.80 and it was party time!! ( I love you IB,ha )
It hit lod of 1.80, a whole buck from my entry.
$3k profit on a stock I never had on watch last night, move with the flow!
I tried to upload the chart but it won't take but look at it, a thing of beauty.
Those of you who like to short the pennies watch VOYT ,shortable on IB, I'm licking my chops for a sign of RED!
Oh and bye bye ZAAP you dog.
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4 comments:
Love the penny shorts. SPAB short at .73, now at .50!
can you speak some as to how you knew this would be something good to jump on, when I look at the chart as it looked yesterday (minus the big red candle) it looks normal to me- are there technical indicators that made this a great trade or is it just the momentum shift of the gap up going to red that makes it nice?
thanks 13th (and Laura) for all your good work in the chatroom-
Johnny,
The thing about INGN was that it was actually a PRE MARKET LEADER before yesterday's open believe it or not!
It did gap some from 2.80 to 2.93 open then hit 3.03.
You rarely see pml's go red so quickly as INGN did.
Most don't go red at all in the entire day.
That plus it didn't look like it would hold the even dollar mark of $3.
Those 2 signs I thought would put the risk/reward of going short on it way on my side.
Admittedly I did get lucky with the quick and nasty fall it took.
There was no way of knowing that, I was just hoping for a few % but got a gift instead.
Laura,
Nice SPAB trade,myself I really like the .30 to $1 range to short.
I think I'm 6 for 6 so far with those in that price range.
There was MESA GTOP XNL HSOA ZAAP and I also have SPAB
Eying VOYT UOMO SWAT IMGR PDO in that range right now.
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