In last night’s watchlist, sent to ProphetAlerts.com subscribers last night, I stated I was looking at shorting HTCH (Hutchinson Technology, Inc.) because the stock rallied 30% yesterday on no news. The company even stated they were unaware of why the stock price had appreciated so much.
Currently, HTCH is trading down 14.1% from yesterday’s closing price of $3.46 with a current market price of $2.97 per share.
Here is an excerpt from last night’s watchlist sent to subscribers:
“HTCH was up almost 30% today for no reason whatsoever (probably recommended by a blog with a massive following). The network storage sector has been hot lately because of the Dell/HP bidding war over PAR, so this is one stock that probably was hyped up and will be a great short. According to the company, they have no idea why their stock was up this high today. Definite potential short, you will likely be able to find shares at most brokers. If this can move higher, that will be better.. but also be warned that this stock has a float of 22.5M shares and can move pretty good with buying volume and short squeezes. Will be watching this very closely tomorrow.”
Today, I shorted HTCH at $3.36/share and I covered at $3.12/share. My alert stated my goal was under $3.00 with a stop loss of $3.65/share. I admit I was impatient with my personal trade, but subscribes banked off my alert and made a nice profit on HTCH as some held past my cover point. HTCH is now trading under $3.00, as I predicted in my alert today.
Here is an annotated chart of how my real time alert played out:
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