ITMN Trade on Feb 26, 2014 14:06 from Spartan_Trader: Tradervue User Stock Trades.

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Spartan_Trader

 

Entry: 33.50
Stop: 33.62 (.12c)
Had this stock on watch for a continuation play or a short if it presented weakness intraday. I was inclined to think that it would be more likely a short, as it had made a run of 170.77% the previous day.
As it cracked the level it was tapping (33.50) I got in.
Scaled out half position at 33.10 for .40c.
Lowered stop to sell price. As it flushed further, I changed my stop once again to 33.20 to lock in gains instead of leaving it at buy price for break-even.
It began to squeeze and I bailed. Sold remaining position @ $33.06.

I should have left it alone as price did not squeeze to my stop at 33.20. Had I done so I would have participated in a bigger move, gaining $1.50 per/share for my last 50 shares.
P&L:$+42.90


Execution detail:

Date/time Symbol Side Price Position
2014-02-26 14:06:19 ITMN sell $33.500 short
2014-02-26 14:06:21 ITMN sell $33.510 short
2014-02-26 14:10:44 ITMN buy $33.100 short
2014-02-26 15:02:19 ITMN buy $33.060 0


Comments

2014-02-27 18:46:03
 

Nice entry. Last few shares keep stop at buy price.

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