As mentioned yesterday. I shorted a 'nothing' move yesterday at $2.15 and today got well and truly squeezed on it. I doubled up at $2.95 on this mornings spike. Today we have seen fades, but it is holding up well into close, we could see another morning spike on Monday.
I will cover some on a push through $3's on Monday. The most likely scenario is we will see fades during next week, back to the low $2's.
Its a shame, if I had waited for the trade, I could have been more aggressive and my av would be $2.95, instead I have $2.49 av.
Open Trades Short
VRML, MBLTY, GTIM, HUSA, CLNT
Open Trades Long
UNIS, CLDX, HZNP, ALXA, SVVC
April Returns, -3.6%