While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to six-month time frame, Mad Day Trader, provided by Bill Davis, will exploit money-making opportunities over a brief ten minute to three day window. It is ideally suited for day traders, but can also be used by long-term investors to improve market timing for entry and exit points.
THC gapped up this morning and it a bit overbought in the short term. Usually, I like to use this as an opportunity to sell calls, but I am not going to suggest that today.
Instead, I am going to suggest you book your profit on the position.
Sell to close your THC shares. The price as I write this is $15.40.
If THC does pullback, I may suggest you get back into the position.