Todays trades ARCI short. I started the day first having trouble making profits to the long side. I actually was in the red for the first couple of trades. I then backed off the aggressiveness and waited for an opportunity I felt more confident with. After the huge push to the upside, making a high of $9.56 cents, the upward momentum started to quickly turn to the downside. I was able to take a 300 share position at $7.84 cents just before the stock was halted on a circuit breaker to the downside.
After the halt, we opened back at around $7.30 cents and I covered my short position in the green. I made a couple more trades on this stock giving back some profits and then earning some more back before the trading day ended. This trade was the most significant in my opinion.
The reason I took this trade was because the selling I saw on the level II showed that the upward momentum was done. If you would like to see me talk about this trade, and my final trade on this stock live, check out the video here
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