Solar stocks rallied today after a deal was struck in Congress to extend a key tax credit for the sector. #ENPH (Enphase Energy) rallied +87% today on the news which was imo absurd. We shorted a small position (on stocks that are almost +100% for the day, we tend to take smaller than usual dollar positions in them for reasons of being cautious) and covered easily on the way down.
Still with only a small $30,000 short position, we still managed to take in almost $2500 in profits in under 30 minutes. This trade was among many today to give you an example of what the MookTrader chatroom is all about. Winning.