This morning, I didn't expect to have any chance at holding my one remaining short in Copart (CPRT). However, Google (GOOG) surprised to the downside, which basically led to a market sell-off across the board, and led to Google's stock being halted for dropping more than 10% right before 1pm est, and has yet to open since.
The short Trade that I put on was in Expeditors International of Washington (EXPD). This stock has a solid double-top in place followed by a breakdown. What I like about it, is the rise into the neckline/previous support/resistance and so I shorted it at $35.65.
The stop-loss is roughly 3% above the entry and is the point that I would have to cover at if the trade goes against me and that is at $36.54.
Here's the EXPD trade setup.
SHORT: Expeditors International of Washington
Ryan (@shareplanner) specializes in swing trading strategies and is the founder of SharePlanner which he created to help and teach others on how to trade stocks better using multiple approaches and time frames. Each day you can count on Ryan to provide his trading advice as well as transparency in every trade that he makes. Ryan Mallory resides in Central Florida. More >>
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