Daily short breakdown/earnings play. 7/23/12 showed a low of $13.90 and was the last support before $13.55 on the daily. The stock was bear flagging right at $13.90 so I shorted when it cracked the bear flag. I covered 3/4 at $13.57 (just above support from the low of 7/18) and attempted to reshort the bounce. The reshort failed as the stock was already down nearly 15% at that point. Overall a good trade but should have hit it w/ more size. Closed P&L $24.12 with only 100shares. With $1k shares (normal position size), this is a $200-300 trade.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2012-08-30 10:38:08 | CIEN | sell | $13.880 | short |
2012-08-30 13:33:49 | CIEN | buy | $13.570 | short |
2012-08-30 15:25:57 | CIEN | buy | $13.605 | 0 |
2012-08-30 15:30:00 | CIEN | sell | $13.530 | short |
2012-08-30 15:46:48 | CIEN | buy | $13.590 | 0 |
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!