barry_fxtrader

$REN Short

Short
NYSE:REN   None
$REN I will be looking to short depending on Price action at the open. The stock is a previous runner where it managed to almost get to 9.00. However, following four days of solid volume with massive gains, the chart looks over extended and had fading volume .

I will look to enter on the open or possibly into the late afternoon to hold over the weekend depending on P.A. and level 2 data.
I am remaining conservative with my risk and will probably trade no more than 1000 shares with a risk of around 10 cents per share. If it drops of a cliffs edge then there is a potential 60% return.

Happy trading.

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