This was a tricky trade, which is why I didn't risk much. It had been pretty extended and it opened lower right on support, so I took a chance that it would have really nice run, which it did, it just went down past support and then did that very thing.
Truthfully, I liked the idea and this is a setup that works very frequently for me, just not this time
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-05-27 09:34:51 | PCYC | buy | $84.800 | long |
2014-05-27 09:37:41 | PCYC | sell | $83.770 | 0 |
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Damn I forgot about this play!