April 1st MBI JCP CPL HZNP and SPY observation

 MBI short 9.41 here
This is a overextended daily ticker that opened and spiked into daily swing high 9.50 area. A much better entry was over under 9.50 at the lower intra day high but I did no see it on time. 
But it was still ok shorting 9.41 following the price action of lower highs confirmed with lower lows with good risk reward ratio.

                                 MBI short 9.41

 

                                MBI target reached 
JCP short 

JCP short 8.52 I did not twit this trade had no time for it but here is how it went. And I think this is more important then the winner MBI !!!
JCP was not near daily resistance so I waited to create lower highs to enter this short. It simply did not work out. Not always this set up works , so limiting my risk to minimal is of essence. Never be too sure in any set up. Nothing works 100% of the time. The only note here for myself is the daily resistance which was far above my short entry,  giving the stock room to easily move higher , with that said, higher  risk. This was not as good as the MBI with clearly defined daily resistance to short of. If nothing else , remember one thing: trade of off daily support and resistances.


Example SPY today :  
The 204.30 is daily support. I would NEVER daytrade SPY unless it is near significant daily support or  resistances like today. 

CPL the short 
CPL also was not near daily resistance but was decent short since it stalled before my entry at 12.98. It was a good entry, but was a horrible trade the way I did it. No excuses. Broke my rules for taking profit and obeying break even stop loss. Mentally I wasn't there as I normally I am. It just happens from time to time , specially when I trade alone when I do not tweet it. 
" I can do anything when nobody is watching, what e relief. It is ok to lose when nobody knows ...."  
It is like an alcoholic drinking secretly. 

                                CPL the bad short 
One of the major reasons I exited too late : I was observing the SPY nose diving from the open, and was too confident CPL HAS TO DROP. But it didn't ! Again the price action is THE ONLY indicator that tells the truth when I am wrong.

HZNP short 25.90

HZNP  is chopping here under 26.00. If trades above 26.00 will have to take a loss. Volume around 26.00 is quite high, so it is creating something:  either a strong resistance or maybe accumulation for long? Which ever it is I can never be 100% certain for my bias. I can only know what I stand to lose. 
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Here is the drop and the bounce , so I had to cover with 5 cents loss since it came back into the channel, no reason to stay short.

                                HZNP the cover with 5 c loss


CPL the second short.
I confirmed very nicely with the lower highs and I had in plan for shorting it again as I tweeted here

                                              CPL the plan for second short
When it was ready for shorting I did not take it because the trading volume looked so thin I was afraid it may be hard to exit if it decides to spike. However it did exactly what it needed to do so I just made a note of it.

                               CPL the planned short drop.

Note: JCP may be great short tomorrow 9.20 area !!