Quick 37% gain on WFR

screenhunter_14.jpgI mentioned about pre-market loser plays as the broader market is bearish (at least from open till now) and I also mentioned about my bias for MDCO, AVID and WFR. My intra-day trading set-up was most suited for WFR so I decided to enter. As soon as it hit my profit target, I am out. A quick 37% gain (after commissions) in less than 30mins of trading..(though I expect it to fall further by another buck…but no coulda, woulda, shoulda).screenhunter_15.jpg

Here is the intraday chart and also the transaction details.

      

Profitable trading, OptionPundit


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One response to “Quick 37% gain on WFR”

  1. REN Avatar
    REN

    Good call. What made you think after a gap down there would further selling pressure?

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