Shared by
BDaniel_BOWS
-Recap: Earnings breakdown bear flag. Main concern was how much day 2 higher low held. Otherwise, it had a clear, lower trendline and appeared to break this morning after a Gap Down. (Looking back, probably was just chop out of the gate). Swing with stop at $18.30 - approximately 75-cents risk vs. $2.25+ to Day 1 low. Daily had a nice bear flag in November that worked well.
Moved pretty closely with SPY. Took out the upper trendline and was off. Raised stop a few times, but actually should lower since main reason for the room I gave was for random spikes, versus the steady move up/consolidation action it put in.
-Pros: Not a lot.
-Improve: Probably a half-size trade given concerns with the Day 2 higher low that seemed to stick higher than would imagine, given the range of chart. Also, if breaks trend and stair-steps up, should lower my Stop.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-02-09 09:32:56 | LGF | sell | $18.520 | short |
| 2016-02-09 09:33:48 | LGF | sell | $18.510 | short |
| 2016-02-09 11:37:48 | LGF | buy | $19.410 | 0 |
Comments
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chased it down yo! no need to take a dollar stop on this. once it goes green just get out and re hit later