Grabbed this from the BOWS Blog via MB.
Originally it was supposed to be a Flat Top Breakout. But I missed the Gap Up/Morning Run Up. So I decided to Short it.
Setup: Rubberband Snapback or a Quick Pullback Buy
Entry Price: $25.21
Exit Price: $24.98
I know 3 cents isn't much of a gain but I had to leave my desk so I just closed out.
Edit bethomasBOWS corrected me and said, "It looks like it was 0.23 instead of 0.03." I can't do math. Clearly I'm in the right racket j/k
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2013-10-10 09:41:36 | NUVA | sell | $25.210 | short |
2013-10-10 09:42:01 | NUVA | sell | $25.220 | short |
2013-10-10 09:42:09 | NUVA | sell | $25.210 | short |
2013-10-10 09:42:11 | NUVA | sell | $25.210 | short |
2013-10-10 09:50:24 | NUVA | buy | $24.940 | short |
2013-10-10 09:50:40 | NUVA | buy | $24.990 | short |
2013-10-10 09:50:40 | NUVA | buy | $24.980 | short |
2013-10-10 09:50:40 | NUVA | buy | $24.990 | short |
2013-10-10 09:50:40 | NUVA | buy | $24.990 | 0 |
Great entry, sell partial, put a stop at break even, leave that desk and come back to either all cash or a nice + several points up.
Sorry, but there is no logic in shorting a stock that has just broke through a resistance level. The play would have been to go long on the break of 25. It was pure luck that your short worked.
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Nice entry