CNC Trade on Sep 20, 2012 10:26 from ckz8780: Tradervue User Stock Trades.

After covering my first trade (

) in this stock, I let it base for about a half an hour right above support on the daily at $36.30. When it broke, I shorted. As you can see by the 1 min chart, there were some random market shenanigans that popped it up very quickly. Based on the weakness in the market and the weakness in the stock I assumed this was just a shakeout so I didn't stop out right away. I decided to give it a couple more minutes to see if it would fade back but it didn't. I was right overall as usual and later in the day it did break down and drop down to $36.00, but I couldn't justify holding something I was down 35 cents on so I just cut the loss and got out. By far my worst loss in a while, at $107.00.

I probably should have just cut it instead of being stubborn but I was very confident in the overall setup, and I was ultimately right but with respect to consistency I should have just bailed. Oh well, just goes to show that you can do everything right and the market ultimately is still 50/50. Also in general it is tough to short stocks in a strong bull market like we are in right now so I am going to try to stay away from doing that unless they have news. Consolidation in a bull market is not an excuse to go short.