Intraday short breakdown. I was a little tight on the stop on this (originally had $22.25 stop) but after seeing two block sales of 61.5k and 65k shares and it still didn't crack I became suspicious and exited before my stop. I could have stayed in of course but it seemed it wasn't worth the risk as also the market was strong and there is over 20% of the float held short so the stock is prone to squeezes.
500 shares
-$55.00 (-0.50%)
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2013-11-14 13:29:57 | CIEN | sell | $21.980 | short |
2013-11-14 14:17:02 | CIEN | buy | $22.090 | 0 |
Same trade for me today heh :)
Legit setup loosing that 22, good stop. This to me is a positive loss.
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I messed this one up too ... we both covered right at a supply zone.
http://pasteboard.co/1gGFTrmR.png