Welcome back everyone! Today was a good day for shorting low float stocks! There were two tickers on the scanner this morning that caught my attention, FTFT and GLG. Although both of these would have been solid long trades early in the trading day, I ended up shorting the back half of the momentum!
The first notable Short scalp I took on GLG was off of the one minute chart around the $3.40 cent area. See the chart below for the trade details!
I decided to go short on GLG after seeing the momentum to the upside fail at the half dollar area. I went short 2,000 shares at $3.40 cent and allowed the position to play out, It ended up dumping quickly in my favor and I was able to cover my short with a decent profit. My cover filled at $3.22 cents!
This stock along with FTFT provided many short opportunities! I will say that it takes a little patience because some of the short trades I made today took a few minutes to go my direction!
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