It’s tough to hold on to a trade all day to only see your profits get wiped out in less than 5 minutes on a false rally. I shorted TIE with the idea that the Dow would have a sell off at the end of the day. My take was that since the PPI announcement didn’t bring sweeping market changes, that investors would turn to cash at the end of the day ahead of tomorrow’s CPI announcement. Anyway, I covered my position at end of the day, not wanting to be affected my tomorrow’s gap. 
… nevertheless, I’m still bearish on TIE. Depending on the next few days, I may have to adjust my trading range from $35 down to $30.
