Yesterday, I expanded the quantity of short positions I had from 70 to 88. One of the new ones was Hanesbrands (HBI). I based my short on the inverted cup with handle pattern.
I was thus disappointed early on Tuesday to see one of the top pre-market gainers was, yes, HBI, up about 6% on strong earnings. My stop did not get hit, however, and what was my biggest concern has become the day’s top money-maker. Bigger patterns beat small corporate news. Bazinga!
