Tactically Trading $SARK
$SARK
From last week …
As outlined in last weeks post, the trade hit my target (gap was almost completely filled intraday) and the trade was closed. The market has been green to open this week, leaving one of my favorite hedges at some interesting prices levels; both the 200 day and the AVWAP from the gap down that closed out last year.
So back in I go. With easy stop out points below, this seems like a good way to play a potential negative reaction to some big earnings reports coming later. If this one moves in the direction I’m betting, my guess is it blows through that now filled gap. And if it doesn’t, my stop out points are very tight.
