AAL was on watch for a rubberband short. Its a very thick stock and a move from $30-$50+ in over a month is quite a bit. I was looking for weakness on pops to short resistances where I had manageable risk but could set up to see if it wanted to wash. When the stock pushed to new highs in the .70's I waited for a lower high to short. It popped .6 on declining volume and as it seemed weaker I took a short with stop at .65. My target at $51 area hadnt changed and I covered in to that support. I would have only covered partial and held but had to go to work.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-12-05 12:28:12 | AAL | sell | $51.553 | short |
2014-12-05 12:28:17 | AAL | sell | $51.550 | short |
2014-12-05 12:50:04 | AAL | buy | $51.023 | short |
2014-12-05 12:50:04 | AAL | buy | $51.020 | short |
2014-12-05 12:50:05 | AAL | buy | $51.030 | 0 |
that is just an absolute perfect entry amazing
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WHOA!! HOT!!!