sold OFIX short

[legion3pm]

sold short at 35.09 was hoping for some profit taking. it gapped up but didnt have huge volume to go with it and i slowly came down throughout the day hope to see more profit taking tomorrow.

[whodi]

Legion my man, this stocks volume was ridiculous today. The volume was up almost %240 of its average volume. Your up a nice half a point. What is your strategy at this point. Meaning, do you have a stoploss set to lock up some profits. Not sure how many shares you are trading. At the same time, stock could gap up premarket as well, so you have to be prepared for everything. Info we just don't know yet but you want a game plan set and thats how you will make $$$ whether its .25 point ect... Whatever your game plan is, STICK TO IT AND DON'T GO AWAY FROM IT. If you cover your short and it drops a point, forgett about it. Discipline is the key to beating this market and you will learn it and see what I am talking about. Don't let emotion get in the way at anytime. My advice, research your trade, ur in the green right now, so great call on that. Figure out your game plan, and if you have any questions, post my friend. Market may have some follow through tomorrow, so keep an eye on that, Fridays to me always seem to be positive days for some reason. If it starts moving up, take your profits, and if you really like the short, at least you lock in the profits and then you get in at a better price anyway if you are really negative on the company for a swing trade or a daytrade for a short. Also, if it heads south, which I hope it does for you, another strategy is to sell half of you postion, lock in the gains and leave the other half out there and if you get a further drop, even better and if it starts coming back up, cover the short and you still make the $$$ by locking up profits from earlier. Keep it rolling man.
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[Goods]

I can see what you're looking at, with no follow through after the earnings run and closing weak.

Two things I don't like is the earnings were phenomonal AND they raised guidance, so you're fighting good news. And you're looking at what could be an bullish island reversal pattern. The volume pop puts it on more people's radar. They may look at the quarter and buy in, upping the price.

Assuming you're looking at a quick swing trade, I'm all for locking in some profits like Whodi says. I prefer to put a % trailing stop insuring profits, while allowing the stop to automatically reset itself to lock in as much as possible without watching it like a vulture.
Be careful of the mistake of watching your profits turn into a loss thinking it just needs more room to pull back. Better to make $14 than lose $100, like I've done a billion or so times in the past.

[legion3pm]

i seen that the volume was over the average but i was thinking that it should have had more volume with a gap up like that and also i thought it would have been stronger with the guidance and earnings. i just thought it looked weak. a half point to me is a good trade i would love for it to run but locking in a half point would make my day at the same time. im really just trying to make good positive trades right now and whether i make ten dollars or a hundred im happy. thanks for the help GOODS and Whodi.

[legion3pm]

sold out at 34.57 took my half point and ran. could have probably held it for more b/c the stock still looks weak but no point taking a chance with profits