NUGT
REASON TO ENTER: Multiple attempts to get through resistance, I noticed on the daily that that same area had been solid resistance for several days on the daily, and GLD was dropping like a ROCK.
RISK: .30 / $45.00
THE TRADE: I took partial profits as NUGT quickly dropped $2.+ and it can reverse fast....I covered another portion as NUGT approached $100.00 level which I thought would offer support and kept a small portion for lotto.
REASON TO EXIT: I had a personal commitment to attend to and exited the trade.....unfortunately I left almost $2.00 on the table before NUGT found support in the $98. area which has for the past few days....L.Periman had mentioned to me several times in earlier comments how important it is to keep watching what items like SPY, GLD, etc. are doing while you are working your trades....it has become an INVALUABLE tool.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2016-06-17 10:35:00 | NUGT | sell | $104.700 | short |
2016-06-17 10:50:00 | NUGT | buy | $102.570 | short |
2016-06-17 10:55:00 | NUGT | buy | $100.790 | short |
2016-06-17 11:20:00 | NUGT | buy | $99.980 | 0 |
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