- On Tuesday DIS broke out impressively. I refrained from shorting it ; it ended the day at 39.00 .
Then in after-hours bids showed up at 39.30 and i could not stop myself from shorting some.
- The yesterday morning the reason for the after-hour strength became clear ; Goldman was putting DIS in the buy conviction list. Fortunatly the pre- ADP number market was weak abnd I covered at 39.14 . I reckoned the Goldman upgrade meant it could easily outperform the market by around 2%.
- As it climbed up during the day I thought that with the breakout on tuesday and Goldman´s upgrade a lot of good news was out and started shorting throughout the day. Average price 39.81 and holding.
-Thoughts: I might make money or not in this trade. But looking at the chart it is obvious I missed the easy trade...which was to go long the breakout. Reason i did not is by the time it caught my eye it was up 2 or 3% already. This means I DID NOT DO MY HOMEWORK. Always have a list of stocks which have the potential for breaking out due to being close to monthly/weekly highs and put them in your watchlist. DO YOUR HOMEWORK.
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