Lazy Trade Long & Short: SHLD & HE
Taking on any short positions of late has been more than likely an unmerciful experience. I personally have avoided them like the plague, and as I mentioned yesterday, they will be relevant again at some point, and when that time comes you want to be ready with a list of setups you can take advantage of.
On the other hand, today's long Sears Holding (SHLD) comes as some surprise for some of you all because it has been one of the most hated stocks for years now. In fact I usually pass right over it, but @thetradingwife brought it to my attention and the set up is incredible. So if it can pullback to $62.20, I'll likely initiate a long position on it.
In other trading news, I sold my position in FBHS today at $28.36 from $24.54 for a 15.6% gain - a very nice trade and one that I held from 8/24.
Here's today's Lazy Trades Long & Short:
LONG: Sears Holding (SHLD)
SHORT: Hawaiian Electric (HE)