- APC started off well enough as per my thesis for entering the trade yesterday http://jpotrading.blogspot.com/2011/01/apc-second-chance-at-shorting-study.html .
-So much so that as it fell further I shorted some more at 74.66 (9:55) .
-But it was not meant to be and general market recovery and a pop in oil meant my stop was trigerred at 75.42 just above what had been the day´s high.
-Thoughts: good risk management. It was painfull to see the profits evaporate and tempting to give it more room, but my thesis from yesterday was it should tank , and by taking out the day´s high in mid morning iy invalidated my "thesis".
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