I shorted $RLYP and left for lunch. After I left my PC, I realized that $RLYP moved down quite a bit and asked Geoff to move my stop as I was confident about moving my stop not expecting the price to retrace the entire move. As luck would have it, it ended up coming all the way back to $19.55 (.05c past my entry) and stopped me out and then reversed back to $19. I would have had a nice gain had I left my stop where it was. Had I been home when this trade was playing out, I know that I would have covered at least half on the move down and then probably would have been stopped out at even on the second half. Perhaps I would have re-entered but that's easy to say in hindsight.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-11-11 13:40:29 | RLYP | sell | $19.500 | short |
2015-11-11 13:58:54 | RLYP | sell | $19.500 | short |
2015-11-11 14:37:48 | RLYP | buy | $19.520 | 0 |
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