SWI Trade on Sep 25, 2013 09:35 from Jagz18: Tradervue User Stock Trades.

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Jagz18

 

Continuation breakdown play on daily of Julys lows after it took out the lows of August. Breakdown spot was 35.31 i tried to anticipate this by a couple pennies at 35.38 because of sell side volume previous day (continuation breakdown play) and market opened weak.The first 5min candle, the pop got sold and i saw this as sign of weakness to get short.
I could have covered half in the low teens but my first target was 35ish i ended up selling this thing just about flat.
Looking back this stock is in a sideway trend bouncing between 40 and 36 dollars maybe on the third test of the 36ish level it breaks down. The volume on the intraday didnt really warrant a flush below Augusts lows and this is why i covered.


Execution detail:

Date/time Symbol Side Price Position
2013-09-25 09:35:19 SWI sell $35.380 short
2013-09-25 10:21:04 SWI buy $35.360 0


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