Bear flag set up shortly after the open. Once it started to trend I entered short during a breakdown at $66.20. The stock had a quick squeeze up for a lower higher and then dropped down. I didn't take any profit because I wanted to be patient. The stock started to change trend and move upwards and passed my entry point. I originally was going to allow for a 30 cent mental stop but the stock didn't look like it was going to head back down so I stopped out.
I should've covered once it $65.60 and left a small position until it got close to my entry and I could've exited the position. Always take profits and don't allow yourself to give it back.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-10-31 10:36:59 | SPLK | sell | $65.950 | short |
2014-10-31 10:47:39 | SPLK | buy | $66.190 | 0 |
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