Felt like a slow day, at least for me anyway. Waited patiently for a possible trade, but didn't expect much today. I offered out short on WYNN & JPM at resistance areas but price never came to me - so close though several times....It became a little frustrating, but I kept calm not expecting much anyway.

News came out after 12:00 about ICPT exploring a potential sale. The news spiked the stock from $95 to a high of $128.75. Once the news came out I quickly checked the daily chart for resistance areas. Found a strong resistance area at $128.39. I was a bit early but got off two 10 share shorts, going very small.  Started early cause this was really moving up fast. Average was 20 shares @ $126.71. I then covered at $123.75, almost a 3 pointer, which was very nice. 

So.... I waited for a setup I felt comfortable with, something that I've had good results with. I made a plan & by looking for a good resistance area to short the spike before hand, as opposed to just winging it because I felt it was "up too much"!!

Plan was to stay below 50 shares or less and the trade payed off. You don't need many shares on these high dollar stocks to make points. The result dollar wise is only $47 after commissions & fees, BUT the process of the 'trade' and the execution was very good even though I was a bit early with first fill...still progress!

I felt good conviction in this trade but I decided not to add anymore at that point anyway. Just shy of a 3 pointer by pennies.  In previous trading, I wouldn't have had a plan and probably would have shorted right after the halt reopened without looking for a good spot on the chart. I would have shorted this way early probably in the $110 - $115 average range and probably blowing up half an account by over leveraging & adding into a losing position on the way up. Good trade not nesc. $$ wise , but the actual trade. Have a nice 3 day weekend.