HAL stock formed a Double Top in the daily chart and the lower peak at the 15-min chart led me to short sell 400 shares right at the breakout of the 1 minute chart. The stock price fell from $40.90 at that point all the way down to $40.50 in 20 minutes, which meant a profit of more than $150 by day trading that stock alone. At the time of writing this post HAL stock is trading even lower for $40.30, but I am happy with the winnings of that move. Besides it’s not the only stock I’m trading today – [intlink id=”1147″ type=”post”]BBY stock[/intlink] also a winner.
Many readers would question the exit point in my day trading method. Obviously I could close just half of the position to secure a nice profit and let the rest of the shares catch a bigger drift in case that happens. I kind of agree with that strategy from time to time but at this specific trade I opted to buy back all the shares. The HAL stock price may have fallen even lower but it has surely lost the speed of the decline and I’d rather not getting caught in a big reversal. Additionally the support level found at that price mark couldn’t be neglected and I believed at that time that it is going to hold. Apparently that was not the case and I just hope some of you didn’t buy to cover and went for the big win.
