PETsMART, 30-minute Chart

Questions:

1) Why would you be paying attention to this stock on Friday, September 5?
2) Is the trend up or down? Would you be looking to get long or short this stock?
3) Where would you get long/short this stock on Friday, September 5?
4) Where would you put the initial protective stop?
5) When would you stop trading for the day?
6) Where would you exit the position?

Answers:

1) Because it was on your list of unusual suspects.
2) Down. You'd be looking short.
3) Short at 23.16 on a sell stop below the 10:30 bar.
... (what a pretty long legged bar at the 20 EMA)
4) Tighter: 23.28. Looser: 23.45. (max. 1.25%)
5) Right after you enter the position or lunchtime, whichever comes first.
6) End of day. Could cover half, carry half, or just close it all at once.

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