Tuesday, August 21, 2012

Update....

My $PCYC long position gapped down yesterday morning on an analyst downgrade. I gave it some time to see if it would bounce and recover the losses from the gap down. However, after seeing the price action on the tape; I was convinced that it wasn't going to bounce and sold my remaining shares after about 20 - 25 minutes of trading at $61.25. In total, I ended up booking about $570ish in profits on this $PCYC swing position that I started into last Monday.

Coming into the day, I didn't really have any swing set ups that I had strong conviction in. And the few that I had on watch weren't setting up the way I'd have like them to. So I decided not to force anything and just shut down my trading platform. Walked away for the day 100% cash with my account now up a little over 7% since late April inception!

Any ways I'm off to do my scans. Will post any interesting charts to twitter before the open.

Good luck and good trading!

No comments:

Post a Comment