I used the daily chart to find a trade setup that looked promising and entered $SKY on 03-08 at a price of $4.49 per share with a small position of just 200 shares. This was because I was trying to limit myself to simulate about a $1000 investment for a small account.
The daily chart still shows the same pattern to hold but after such a large spike it felt like it was a smart time to exit and take profits, especially since I was way past the initial 10-20% target.
Now that I'm out of the position I kind of wish I had left a few share in to follow the chart pattern all the way to the sell trigger. But I'll continue to watch from the sidelines and once that trigger is shown I'll do a "what if" comparison.
I also closed another multi-day swing trade this morning $FIG as a short, though not because of spectacular gains or anything. I just lost confidence in the trade and wasn't crazy about the chart patterns. It's a small gain, but a gain is a gain, so I'm not complaining.
Update on swing trades:
$AVP -13.26%, short with a target of $3 to $3.50.
$GRPN +3.21%, short with a target of $3 to $3.20.
$NADL -28.50%, long goal of 10-20%.
$RJET -9.02%, long, looking to exit as soon as ticker is traded again.
$SDRL -19.46%, long goal of 10-20%.
$TRIL -12.08%, Long goal of 10-20%
$RJET -9.02%, long, looking to exit as soon as ticker is traded again.
$SDRL -19.46%, long goal of 10-20%.
$TRIL -12.08%, Long goal of 10-20%
Overall total on investment: -11.19%
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