What Makes This Trade Great: An AI-Empowered Short Play
What Makes This Trade Great: An AI-Empowered Short Play
Aug 26, 2024
By Barrie Einarson
Hello traders! Barrie Einarson here with today’s edition of “What Makes This Trade Great.”
You know, today wasn’t bursting with clear continuation plays on either the upside or downside. However, one trade truly stood out, thanks to our AI’s sharp insights.$NSSC – What Makes This Trade Great!! To Subscribe: https://go.trade-ideas.com/SHQ
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This particular play was an earnings-driven opportunity. The alert came through to short at $49.64. Now, if you were watching pre-market action, you probably noticed—there wasn’t much going on. That brown area on the chart, representing the pre-market, was pretty quiet.
But then, the market opened, and that’s when the fireworks started. Right from the 9:30 AM bar, we saw a sharp decline. This stock just cratered, dropping from $49.64 all the way down to $45.24 before it even thought about pulling up. That’s nearly a $4.5 move, almost straight down. A few minor upticks along the way, but nothing significant enough to interrupt the momentum.
Now, we’re seeing a bit of a recovery. I’m keeping a close eye on this one. If it stalls out, there could be another chance to short it again for those who missed the initial move or want to double down. Check out my homepage for more information.
Stay sharp, and I’ll see you tomorrow with another great trade.