I Was a Little Short This Week

I know from watching the Twitter stream that a lot of traders frown on shorting stocks. It may be that they're uncomfortable with the risk, would rather wait to trade the stock from the long side or they may simply be purists when it comes to trading. I believe that you can work both sides of a trade, long and short. I look at the charts that I have in front of me and if any of them suggest that a short sale is the best trade then I'll consider selling the stock.

The past week was choppy at best but it did present some opportunities for one or two short sales. Along with my long positions I shorted 3 stocks. $ATML, $AMAT and $LCRY. I was able to take a nice gain on 2 of the stocks and had a small loss on the third.

It was good week all in all. I've been seeing more short setups lately than long so I'll continue to look at the charts with an unbiased eye. I'll practice good risk management and honor all my stops so that I can minimize any loss. We know that the market presents us with opportunities to trade from both sides. We just need to take advantage of those opportunities and do it with discipline and good judgment.

I hope to have some setups to share by late Sunday. Have a good weekend. See you all on the stream.