Blocked members would be happy to know I completely closed off...

Hope we all stayed a little safe out there on STX. Friday Patterns are predictable here

Blocked members would be happy to know I completely closed off my short position moments before 21.5c Buyers got completely dumped into at 2.23pm, annoying because I was so early in the 21c queue I pulled it out to hit 22c Buyers but I got the cross trade at 21.75c locking in another +$275 from yesterdays entry. Why did I close out my position? Keep reading



Updated Weekly Chart:
This is the main reason. Despite the Weekly showing it has completely broken trend, I respect that 20c has been a level prices rallied up from 3 separate occasions that are very notable. With the amount of shorts on it, we have ALL made good gains and therefore makes sense to take SOME off the table at these levels.

Therefore, I will be pretty Long Biased all next week as I suspect prices bounce off these levels and look to try and retest the broken trendline. Not sure if gaps at 40c or so will get filled as this is a broken stock. Upon failure of trendline or too strong a move etc, immediately I will take profits and reverse my position back to a short.

Surprisingly, I DID NOT take any of this at the close. More than happy to see how Monday plays out atleast the first hour of the day.

SENTIMENT: BUY
POSITION: NOT HELD