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Shorting PAY

pay1This was a classic «second-day play» — On Dec 14th Verifone shares fall 5% following miss on revenues and downside guidance from the company. After the weekend it showed no upside interest (no gap, small trading volume), so we shorted this stock immediately after it crossed it’s previous day close. Half of the position was shaken off @29.00 (stops too tight @29.07, 29.13 would be nice), but I re-shorted it after the second bounce to 29.00. Closed for a nice profit @28.75, not believing in massive move further (SPY was slowly crawling up).

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