This was downgraded today. The analyst cited backlog issues. Pre-market and the reasons cited for the downgrade were a couple reason. I listed this as s possible play after price discovery. The hourly chart resistance led me to believe that this would close over 193.25ish. I was watching the tape as the stock started to approach the opening low. It seemed that there was some building strength around .60cents. The entry was good. But, looking at it now, I did get in at the end of a candle instead of the start of another. This played out as gap reversal after play. The entry was fairly good off of the tape and some overnight support. The exit was not. The risk profile turned out well. I did not need the extra 8 cents. But, even with it this got almost 2 for 1. A solid after the opening trade. I needed not to be focused on the P$L here.
Positives:
Confident entry
Trade came to me
Part of morning set up
Opportunities:
Trade management
Exit strategy
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-04-03 10:00:33 | CAT | buy | $138.700 | long |
2019-04-03 10:00:33 | CAT | buy | $138.700 | long |
2019-04-03 10:19:05 | CAT | sell | $139.467 | 0 |
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