Trading the news today with a big short on $MNK after a tweet by Citron Research @CitronResearch. I went heavy on this one and I was looking for a big, multi-point winner. Unfortunately, I only got 40 cents. With 4k shares, it amounted to a nice $1600 winner. A great win, but far less than what I was hoping to see. As many of you know I don’t usually trade higher priced stocks and I don’t usually take big positions. However, it’s important to know WHEN to be aggressive, and this was the time. Recent stocks covered by Citron have included $JCOM, $VRX, and $MBLY. Each of these stocks experienced massive sell offs. The tweet didn’t link to a full research report on $MNK, but suggested that the company makes $VRX look good. Andrew Left of Citron Research will be on CNBC at 5:30 to discuss his opinion on $MNK. This may end up setting up for another play afterhours or tomorrow, but I think I’ll stay out. I usually play the initial move, and avoid the rest.
As you can imagine, there are breaking news headlines all day long. So how do you weed out which ones are actionable and which ones are junk? We’ll teach you in our Trading Courses. This will unlock the ability to quickly capitalize on movers like $MBLY, $JCOM, $VRX and $MNK.
I would suggest traders use a service like TweetDeck, and create a list of their favorite traders on twitter or research analysts. I’ve done this, and it helps me get the breaking news very quickly. I have a News list that includes @citronresearch, @muddywatersre @gothamresearch, and @adamfeuerstein, to name a few. Carl Icahn is another good person to follow on twitter. I know a lot of people think twitter is silly but I find it to be a really helpful tool. It’s used by a lot of traders and investors for exchanging trade ideas and finding breaking news.
Recent Citron News Trades
— Citron Research (@CitronResearch) March 15, 2016