Partial sell on the opening
Sold the premarket gap to 32:
This one is still in play look for it coming out of that hourly base.
FIT: I think a lot of people went into FIT yesterday in hopes of a gap. I was prepared to sell into a gap had that happened. Yet there was a quick sell off about 45 mins before the open and FIT came bouncing back. I knew that would be a good sign as the dip shook some of the weaker hands out so this trade became less crowded. I decided to get out going into 44. I figured the handle would be some resistance and I would rather sell into the handle before the test as if the resistance held this could have dropped quickly and I would be chasing a bid.
It did briefly get over 44 and when that happens there is a quick rush and then a fade. That is exactly what happened and FIT could not regain the strength after the gates opened at 44.
This is still one to watch... First level I would consider is 40 then the gap in the 37.5-38 range. This is still crowded and it needs to punish a some of the "easy money" traders.
Opened 14.28 Back to this one after being stopped out on Monday. Several bounces off the $14 handle. Hedge funds increasing positions (with lock out until fall)