Retailers have been going berserk since Trump won the election. And with black Friday coming up, investors usually chase retailers up more than they should. Today $CAL (Caleres stock) reported in-line earnings and yearly guidance but the stock was taken up +17% on the day. We thought this was a classic example of black Friday retailers chasing as well as end of the year sheep portfolio managers trying to catch the S&P index performance by buying anything that was making new highs on the daily charts.
We initiated a short position in $CAL at $33.27 and added to the position into weakness as we saw sellers come in. Once it went below vwap we started to take profits and close out the position.
All trades are called out live in the MookTrader stock chat room as they happen real-time. Not a big trade but an easy one right before the Thanksgiving holidays!
Net Profit: +$2,341
