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ckz8780
Longside short breakdown. I saw support forming around $27.80 and the stock had broken below the 5 min 20sma so I shorted 100 at 27.78 then added up to 300 shares when it started working. Average of 300 at $27.76, covered up for a $81.70 gain. The first trade earlier in the day I tried to catch the premarket break of $27.30 but got filled 20 cents high so I got out flat since it was too high-risk.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2012-12-26 09:56:24 | HLF | buy | $27.500 | long |
| 2012-12-26 10:01:08 | HLF | sell | $27.510 | 0 |
| 2012-12-26 14:18:41 | HLF | sell | $27.780 | short |
| 2012-12-26 14:36:11 | HLF | sell | $27.751 | short |
| 2012-12-26 14:36:11 | HLF | sell | $27.751 | short |
| 2012-12-26 15:25:47 | HLF | buy | $27.530 | short |
| 2012-12-26 15:55:24 | HLF | buy | $27.450 | 0 |
Comments
ckz8780
Actually even lower but yes, 28.25 would have been the ultimate stop. Since it had tapped 27.8 about five times since 12pm and also failed above 28.25, I planned on cutting it if it even got close to $28.
Oh also if you look at the 20sma you can see it was holding the price down so a break above $28 would have also violated that. Another reason I would have cut it there.
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Looks like you might have ended up a little better than me on this one. Just curious what was your stop on the 2nd entry, were you using the 5' pivot over that 28.25 area?