I have been following HSFT for a while now waiting for it to make a move back down, but its quite stubborn. There are a lot of HSFT like moves in the market, and picking the top makes for a quick profit, but finding that top is tough. Here is the daily
I have noticed that when these things tend to finally break down, its usually when the first print of the day is the high and the move is straight down. I put some shares on around 25 and a little more at 24.50. The trade seemed to be working great until 1:15 when a big buyer came in. At such high levels it is likely that is a real buyer rather than a short covering his position, so that game me something to worry about. As it began to drift up I bailed because someone was still interested in getting more shares.
HRBN was a quick fade on some news they were entering into a joint venture with Harbin Electric Machinery in China. Is that news worth anything? I don't know, but I kinda doubt its worth a 15% pop in the stock so when it showed some weakness on the pop, I got short. It actually worked out as good as it possibly could. In and out in about 10 minutes with no fighting on the way down.
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