Shared by
suzieshort
I shorted this when it broke resistance. It went down quickly to 36.18. I was looking at the 30 minute chart, so I thought it would go to 36.00. Unfortunately, it was below the bottom bollinger band and it went back up. Shouldn't have doubled down.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-06-28 11:59:00 | LEN | sell | $36.450 | short |
| 2013-06-28 12:10:00 | LEN | sell | $36.190 | short |
| 2013-06-28 12:20:00 | LEN | buy | $36.460 | 0 |
Comments
suzieshort
I would have been fine if I hadn't doubled down. Oh well...
Have a great weekend!
JoJoTrades
ya I'm surprised you didn't do a partial cover at the same spot where you Added to the short. of course sometimes what you did works out, and when it does its BIG MONEY!!
I don't mind this loss so much, as I'm thinking about it. It wasn't huge ($140), and I really thought it was headed lower. Maybe when I do this next time, I'll be more careful with my stops so I don't lose all my profits. I know I'm going to be looking for more trades like this, so I just have to be happy knowing I didn't lose all the grocery money. Just kidding!
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i like this.. this is the exact type of trade i would have made.. bear flag on daily (check) Bear flag on intraday (check) things were lined up.. sometimes the stocks dont breakdown the way we want..but u lined it up on ur end and if u do that trade 10x u will win 7 of them .