Prospectus's Post
Went long NKE at $56.25
10 Replies:
Not quite a CD, but still...
I would be very nervous to go long right now. It looks like a dead cat bounce and headed much lower.
damn I bought at 56.50, but then accidentally hit the sell button at 56.51. finger twitch. Glad you're in it, anyway.
Moving stop to breakeven at $56.25. Holding out for 119% fib extension, which is also the recent 52 week high.
Nice low volume consolidation now under the OR high.
Stopping at the OR high. If I had infinity daytrades, I'd take a partial here.
Sold at $56.83, 1.1R profit.
Looks like I should have held! I would still have half my position, if I had more daytrades...
@Nathan: It wasn't a dead cat bounce since it gapped up before the drop today. You'd be playing the dead cat bounce if you went short at the open, considering the gap up to be too overextended. Entering in the direction of the trend after a retrace is a different play.
Dang, I way should have held! Oh well...
