Tuesday, January 4, 2011

$SBUX Good trade. Should have been better. $study

- Entered the day with a short position at 33.25 . Reasons for it explained in another earlier post.
   http://jpotrading.blogspot.com/2011/01/bbby-and-sbux-betting-resistance-would.html
-Everything going according to yesterday´s thesis , and when there was a pullback from the downtrend I shorted some more at 33.02 (10:25) .
-Covered position at 32.71 (12:04) .

- Thoughts: only problem was the exit. Could/Should better plan the exit with trailing stop. Quickly looking at the chart, a good cost/reward trailing stop seemed possible; stock still went in a clear downtrend from my exit.

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