Home » Killing Your Darlings (And Another Short Opportunity)

Killing Your Darlings (And Another Short Opportunity)

Hey, Ross here:

The year is ending but the opportunities just keep coming. Here’s a trading idea for you today.

Chart of the Day

International Money Express (IMXI) is unquestionably a short. Just look at the massive selling on heavy volume that occurred in early November.

A relatively stable stock falling 30% in two weeks is a significant change in behavior, and it signals that institutions are dumping the stock in mass.

Shares have grinded higher over the last few weeks but still haven’t made any significant progress.

IMXI is now trading against a previous support level which coincides with its 50 and 200-day moving averages. That is a lot of resistance to get through.

The low-risk play here is a short, since you only need to risk 4–5% on the trade to see if it plays out as we expect.

Insight of the Day

Always be ready to kill your darlings

Look at this headline from yesterday:

It’s one thing to think a company is a good buy – it’s another to be a diehard “fan” of a company’s stock.

As traders, we must always be ready to kill (sell) our “favorite” stocks – if that’s what our strategy calls for. But all too often, I see people cling on to a stock, even making it part of their identity (I’m a Tesla investor!).

I admit – I do have my favorite stocks. But the moment my strategy tells me it’s time to sell, I do it (I can always buy back in later if conditions are right)

That’s why my flagship strategy is still net positive this year – because I’m always willing to take profits when the time comes. 

Remember, you don’t need multi-bagger wins to make spectacular returns. You just need to keep stacking the consistent profits my strategy could provide. See the proof for yourself here.

Ross Givens

Editor, Stock Surge Daily

Ross Givens
Ross Givens

I bought my first stock when I was 12 years old. It was Microsoft. I’ve been a registered financial advisor. I’ve worked as a stock broker. I ran a managed fund. I was a Vice President at JP Morgan with Series 7, Series 66 and Series 3 securities licenses. I’ve been featured on Fox Business, CNBC, Bloomberg, and a bunch of other networks. The only thing I enjoy more than making money, is helping YOU make money.

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