Welcome again to THEFREEDOMGRIND, all about day trading and stock market info! This article will be recalling Fridays trades, and boy was Friday a day for trading! There were a couple of stocks that made some moves, and one in particular that made HUGE moves!!
RBZ is one of those stocks that just came out of nowhere and blasted to the upside at record pace. We saw this stock roll from around $5.00 dollars to $27.00 dollars! Impressive!! It is always an encouraging sight to see stocks make moves like this! Unfortunately, We were not able to catch this move to the long side and instead were able to make short position trades on RBZ!
This wasn’t the only trade made on RBZ, but it is the most significant! I was able to enter a short position around the $19.20 area with a 500 share position! This trade did not work out immediately, and instead pulled back to the upside. During this pullback, the position ended up giving back some earlier profits before turning in the direction of the trade. The position was closed after that big red candle appeared, and just before the trading was halted on a circuit breaker due to volatility! This put my profits on this Stock at just above +$1200!
This was a great example of how these Low Float momentum stocks play out after a massive push! I entered the trade with confidence that we would see some major selling, And we did! Being capable of playing both sides of the chart, meaning long and short, gives traders a whole new dynamic and profitability, if the trades are executed and managed with efficiency! Sometimes you have to not be so strict on your risk management and allow the trade to go into the direction you were confident that it would! This trade was almost closed around the top of that pullback, but with a little bit of patience, the stock went the direction of the position creating a fantastic profit!
Here at The Freedom Grind, we love to talk about the market, and help in any way to make anyone/everyone a much more efficient Trader!! To support our operation Hit the LIKE button at the bottom of the page! If you would like to be notified when The Freedom Grind posts, hit the FOLLOW button and receive an email whenever we post market related news, our trades, and market analysis!