Busy morning, as the early strength knocked me out of two of my holdings in Silgan Holdings (SLGN) and Hilltop (HTH). However, not to be outdone, and still working within the parameters of my trading system, I jumped back into 2 more short positions and then went long on an UltraShort ETF of the S&P (SDS). The two stocks that I shorted was Cisco (CSCO) and Allergan (AGN). I posted charts on the CSCO and AGN last night so click here to see what I’m thinking as for rationale on these two setups.
As for the trade in SDS, where I got in at, what my stop-loss is, etc, keep on reading as I have posted the chart below.
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