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Today Clay looks at JNJ on the 5 minute chart. He talks about various pros and cons of going long versus going short. We then set up a trade plan to go short using a candle with a nice upper wick. Clay talks us through the various issues of people’s stop losses mainly pertaining to the wick location and grandma numbers (setting a stop at .49 instead of over the half). Assuming you got filled the chart continues the downward trend it started the day with reaching the initial target. Now it is just a matter of trailing our winner. This trade was good for almost 10 dollars. Not bad for what we consider a ‘mud stock.’