SHORT FRAN @ $15.23

FRAN 15 MIN CHART

Good morning traders, Yesterday I decided to get back into FRAN (short) 100 shares @ $15.23 and a Buy Stop @ $15.90. My overall risk on this trade with that stop in place is only $67 dollars. Overall my P/L on FRAN this year is already $251 dollars from previous shorts made on it.

Reason For the short: In most instances, especially a lower cap/float stock, the reactions to news or earnings can be exaggerated. This stock rose from about $5 dollars all the way to almost $20 dollars, In my opinion that is a bit irrational, but because FRAN has a lower float, it wouldn’t take a lot of trading interest to push the price to these irrational levels.

I will be watching this trade today and can already see FRAN will be opening the morning down in the $14.80s dollar area so my short will be profitable. Happy trading!!!!

Published by Eric Jobb

Hello everyone, my name is Eric and I am the founder of TheFreedomGrind. I love to trade stocks and futures, It's my passion, and I will never go back. I have taken time, money, and energy learning the market. There is no secret trick, no gimmick that will get you closer to being profitable. It will take time, money, and energy to make gains as a day trader. I created the blog and the YouTube channel to provide as much useful information about trading to anyone who has the desire to become a trader.

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