06 Sep Trades for Tues, Sept 6, 2016: + $2,517 Profits
Autumn one-on-one LIVE mentorships trader training with Jea Yu for 2-5 day mentorships are available and online coaching sessions.  Beginners to seasoned traders are welcome as the training is customized to the individual. Contact  us for dates and details or email JeaYu21@gmail.com directly.  Spots are limited!
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9:56 – SHORT 9800 NAV 21.95avg, COVERED 7800 at 21.73, out + .22, COVERED 1000 at 21.56, out + .39, COVERED 500 at 21.44, out + .51, COVERED 100 at 21.22, out + .73, COVERED 100 at 21.12, out + .83
Total Daily P/L:Â Â Â Â Â Â Â Â Â + $2,517 Profits
Summary
SPY daily make or break and 60 minute make or break made for early chop. We scaled into NAV SHORT on the absurb gap and grind scaling shares all the way up to 23.15 to average 21.95 on heavy size. The press release this morning just 2 days ahead of earnings release almost always signifies crappy earnings report on the horizon. Additionally, VLKAY only paying $15.76 on 16.2 million shares in private offering, which further dilutes the float, which means that price in the 20s is absurb and nothing more than an algo driven short squeeze. We scaled the perfect storm grind down to trim nicely into the leans as it tagged 21.44 and 20.14 fibs on the reversions. Closed out the morning with + $2,517 Profits.