Wednesday March 8th - INTX

So 1 of Jim's picks on March 8th was INTX. Intersections, Inc. The stock closed at $9.10 the day that he mentioned it. The stock then proceeded to go up to around $10.83 in the after hours market......a 19% increase! So I took this opportunity to short this stock because I felt that the increase was way to high and way to fast. So I shorted 500 shares at $10.45 that evening around 6:20pm. This was my first overnight short. I have only shorted twice before and both times I shorted in the premarket the next morning and covered soon afterwards. Holding short overnight worried me a bit because who knows what news may come from the time the market closes to the open, but I lucked out. I set a buy order right after my short sale for a modest .20 cent profit point ($10.25) to be execucted GTC (good till cancel) and for the Extended and regular market. My buy to cover order was filled around 10 minutes into the premarket for a quick $100 gain (minus commisions). Not bad for only holding the stock for a few minutes of acutal market time if you ask me! :)

As you can see from the chart there was an early decline in the premarket followed by an increase all the way up until the opening bell at 9:30 followed by another drop. At this point My trade is done. Although there is another rise an fall later in the day, I personally find it too risky to continue to trade after the initial increases.