STX / YUM
STX -> 6.54% short float, no news
STX had been showing long term weakness and had fallen from 35.71. The fall and major pivot of 28.00 indicated here:
Levels from August and July had been in play as the stock bounced between previous support region in 29.50-30.50 range.
STX continued to fall until it was bought several times around 29.15- 29.40. Finally it looked to be turning around but failed at 32 with a major sign of weakness. After the final attempt to hold above 29.15 on Oct 8 it was broken today.
Despite my 28.00 target I decided to cover part of the position here due to committed buying.
I covered my final lot too early. My mistake was not making the stock prove me wrong by crossing over 29.05 again. I should have held for another test of 28.50. This did not happen for the rest of the day. Would be a good swing to hold short for 28.00 target but I am not comfortable with overnight risk so I was too eager to get out. Still should have held to close, will learn my lesson! Will short on test of 29.15 tomorrow, otherwise no more short interest for time being.
YUM -> 1.87% short float, earnings 99c beats by 2c
After hours buys above resistance at 68.50 and stays up there. More than 20% of daily volume after hours. Will watch 68.50 level on open with several upside targets.
Targets below. Will watch levels on open and scalp any momentum through major levels. Looking to enter trades to hold for larger up moves on retraces to major intraday levels and/or targets.
Happy trading!
Sean
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