Stop: 30.05$
R: -2
I'm a little anoyed about myself regarding this trade. Just because it's up, it doesn't mean it's a short. And I didn't have a plan, but followed the trade of others. This is a low floater on the run and in order to short it, there has to be a blow off top first or a crack of an important support. Coil below 30$ looked juicy, but downside was literally just 50cts, there was no sign of a breakdown, just shorts trying to get out on the bid. Of course it blew 30$ and there were multible signs that it would.
No reason to hold into stops. Thankfully I was on "i just give it a shot" - size.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-05-15 11:27:27 | CMCM | sell | $29.840 | short |
2015-05-15 11:44:51 | CMCM | buy | $30.220 | 0 |
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