Despite the negative news, market has its own mind. Its been only going higher.
COSTCO seems to have ran out of gas, and shorts may be taking over soon. The idea is to get in as early as possible, and get out when the rest start to jump in.
Shorting COST to the $530 area. Since risk management is key, and COSTCO is an expensive stock, Iam going to purchase a debit spread OTM mid Nov expiry, that is suitable to my risk tolerance.
best of luck.
COSTCO seems to have ran out of gas, and shorts may be taking over soon. The idea is to get in as early as possible, and get out when the rest start to jump in.
Shorting COST to the $530 area. Since risk management is key, and COSTCO is an expensive stock, Iam going to purchase a debit spread OTM mid Nov expiry, that is suitable to my risk tolerance.
best of luck.
Trade closed: stop reached:
Oh well :) the good trades always cover the losses