After a strong push down, seemed to be consolidating under resistance at 82.00. Sold just below this level, stop 80.02. Covered half as it started down to cover the risk, and covered the remainder when it seemed to stall at new lows. 4.6R gross return.
Good entry, but left a lot on the table on the exit.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2013-04-11 11:42:55 | MPC | sell | $81.970 | short |
2013-04-11 11:42:59 | MPC | sell | $81.970 | short |
2013-04-11 11:43:47 | MPC | buy | $81.890 | short |
2013-04-11 11:48:46 | MPC | buy | $81.590 | 0 |
No kidding about 83! I didn't have the stock on my radar until it had already broken 82. Too bad I wasn't man enough to hold to 81 - ha.
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Sweet trade! Man would I have liked that 83.. haha