Adding a New Short Position in Tetra Technologies (TTI)
This trade comes straight off of yesterday's daily long and short setup, which highlighted this trade. I recommended getting short between $6.01 and $6.10. In my case, I got in at $6.06. So far so good with this trade.
Though it does come with its own risks - it is a low dollar, small-cap stock, and the key with this one is to not hold it beyond your stop-loss. Sounds obvious, I know, but sometimes, if one is keeping mental stops, its easy to let that stop-loss drift some, and before you know it, you are down twice as much as you'd otherwise be.
So be sure to use a hard stop on this trade - no mentals.
Also, if it breaks down like it should, don't go for the homerun. Take 4-5% and get out. You'll be better for it.
Here's the TTI trade setup.