I know, I know, you ALLLLL saw my video from the other week with my take on all the hot coffee plays
CLICK HERE TO WATCH THE QUICK BUT SADLY UNEMBEDDABLE VIDEO
…where I said I was looking to short CBOU…
Well, I still don’t believe in the company or the reasoning behind the runup, but who cares what I think…my trades are based on price action and despite it looking like it was about to roll over last week, today it showed breakout possibilities so I sent this mid-afternoon to TIMalert subscribers:
Bought 2000 CBOU at 6.40…potential intraday, multi-day, multi-week breakout…I know I said it was a potential short a few days ago, but the chart is too strong to ignore and even though the fundamentals don’t support a move higher, the shorts can and will get squeezed if this thing breakouts past $6.50…my goal is to sell in the mid $7s or even the $8s as this thing has proven, along with DDRX, that this sector is hot and can really move…nice high volume today too sets the stage nicely for the next 1-2 days, cut losses quickly if the breakout fails
You can see on the charts below that it soon after broke out on every important time frame on huuuuge volume, meaning the odds are high to very high that we will see further short-term upside:
Some TIMalert subscribers have already taken their profits and left:
in @ 6.45, out @ 6.87 five minutes later
-O.
nice. In 1k CBOU at 6.475…out at 6.85 for a quick $375 profit
-Reaper
Out + $370 on CBOU in 20 minutes of work HAHA
-TraderJoe
Bought 1000 @6.70 , sold at @6.90 for $180 profit. More importantly, I’m learning the game.
Thanks Tim!
-P.
sold at 6.82 gives me about 140 after commissions.
-ehrof
…but I held, my 2,000 shares overnight as I still expect the mid to high $7s tomorrow or next week, especially since this stock has proven it can move faaaast, the similar breakout price action in DDRx after it consolidated in the $8-$10 range and the overall hotness of this coffee sector.
Sure, I’m already up $800 or so, but the markets are very kind to hot stock breakouts now and shorts everywhere are scared…hehehehehe, it feels good to trade both sides.
To anticipate those of you who will inevitably whine and moan, “you’re a flip flopper”; you’re damn right I am…this isn’t politics, flip-flopping is encouraged in trading you friggin morons!
Tags: Breakouts, Good Trades
