Shared by
thearmotrader
1st trade
-Shorted 44 w/ stop at 44.11 (did not have enough size-Need to be faster and be able to risk more)
-Why short 44?
A) Was Low of Day wick on the opening bar. Love shorting previous LOD as resistance.
B)Psychological level
C) Stock = Weak + hitting multi year lows
D) Cover was OK, target was 43.25, but got ancy and covered a bit early. Need to trust instincts a bit more.
2nd trade
-Follow the trend so I shorted on a retrace to ~43.55 ish area where It was having trouble getting above....Sellers lifted and I got stopped out canceling some of the gains from the first trade. But will still take this trade 10/10 times.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2011-08-01 10:10:49 | TEVA | sell | $43.990 | short |
| 2011-08-01 10:15:35 | TEVA | buy | $43.400 | 0 |
| 2011-08-01 11:14:46 | TEVA | sell | $43.500 | short |
| 2011-08-01 11:17:57 | TEVA | sell | $43.520 | short |
| 2011-08-01 11:19:24 | TEVA | sell | $43.560 | short |
| 2011-08-01 11:20:08 | TEVA | buy | $43.670 | 0 |
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