Been stalking this one for days; I thought if it broke 71, that would signal a change in trend and it might get going. After that, 72 seemed like the next area it needed to get through.
It spend a while working through sellers below 71, then I bought on a decrementing offer. Sold the first portion into the initial pop, then held the rest until it made what appeared to be a lower low.
I had a lot of confidence in this trade, especially after it spent the time just below 71. I should think about this; perhaps this is the sort of trade I should come into with more size.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2011-01-05 10:49:22 | V | buy | $71.000 | long |
2011-01-05 10:49:57 | V | sell | $71.200 | long |
2011-01-05 12:57:07 | V | sell | $71.660 | 0 |
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