On a very slow day, we worked especially hard to force a trade. We found one in an unaccustomed place – a ‘counterintuitive’ (CI) short in Newmont Mining that produced a small ($120) but satisfying real-money gain for several students. (For the record, they covered most of it a few hours later at the 31.31 midpoint support of the pattern.) One factor that led us to the trade was the price of the stock – at around $31, a cheapie relative to AMZN, GOOG, NFLX and some others we typically look at during these sessions. We also discussed some tentative high-leverage plays for Friday’s expiration, but precise strategies could not be formulated so far in advance.
