Shared by
firesky_BOWS
LONG SWING POSITION: This one was mentioned in the forum. I like the weekly chart with the stock breaking its long-term downtrend and steadily uptrending since the beginning of March. There's also an ascending triangle in place going back to December 2013. I got in at the market price of $9.51 to establish a position. I've placed my stop at $8.25 with a short-term profit taking target at $10.30. Not a high R/R trade with that target at all (1.0 R/R), but I'm in it for the long-haul as the stock just crossed above its 200day and 365day SMAs.
8/13/2014: Added to my position to get closer to trend support after this two-day 4% drop.
8/14/2014: Took profits at my first target on half my position.
8/18/2014: Out half of my remaining position at my second target of $10.30. Moving stop up to below the trend support and 50day SMA at $9.03.
9/26/2014: Out my remaining position as my stop was hit.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-08-11 09:31:00 | JCP | buy | $9.510 | long |
| 2014-08-13 12:21:00 | JCP | buy | $9.230 | long |
| 2014-08-14 15:51:00 | JCP | sell | $9.710 | long |
| 2014-08-19 11:11:00 | JCP | sell | $10.300 | long |
| 2014-09-26 12:01:00 | JCP | sell | $9.610 | 0 |
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