FD Chart

Even though I said I had no intention of trading FD today since I couldn't afford to short very many shares, it could have been a worthwhile trade. It opened at $78.40 in the premarket, up $1.04 from yesterdays close and even slightly above where it traded after hours yesterday. The stock then declined for the rest of the day and closed down .75 cents to $76.61 for a total drop from its high of $1.79 or just over 2%. Even on shorting 100 shares this could have been a decent trade. This decline may have had more to do with economic data and/or the news they will be selling Martha Stewart merchandise at their Macy's and Bloomingdale's chains. Regardless, I'm thinking it might be worth looking at one of these higher priced stocks the next time Cramer mentions one. They still get a good pop in price, at a lower percentage increase, but equal in dollar amount it seems. Then, since there is probably less "Cramer demand" the price is more likely to fall with regular trading patterns taking over more quickly.