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Prospectus's Post

Went long NKE at $56.25

posted in stocks on Jun 27 9:30am

10 Replies:

Not quite a CD, but still...

posted by Prospectus in stocks on Jun 27 9:33am

I would be very nervous to go long right now. It looks like a dead cat bounce and headed much lower.

posted by nathan in stocks on Jun 27 9:33am

damn I bought at 56.50, but then accidentally hit the sell button at 56.51. finger twitch. Glad you're in it, anyway.

posted by RichardTodd in stocks on Jun 27 9:39am

Moving stop to breakeven at $56.25. Holding out for 119% fib extension, which is also the recent 52 week high.

posted by Prospectus in stocks on Jun 27 9:42am

Nice low volume consolidation now under the OR high.

posted by Prospectus in stocks on Jun 27 9:44am

Stopping at the OR high. If I had infinity daytrades, I'd take a partial here.

posted by Prospectus in stocks on Jun 27 10:12am

Sold at $56.83, 1.1R profit.

posted by Prospectus in stocks on Jun 27 10:18am

Looks like I should have held! I would still have half my position, if I had more daytrades...

posted by Prospectus in stocks on Jun 27 11:44am

@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.

posted by Prospectus in stocks on Jun 27 11:57am

Dang, I way should have held! Oh well...

posted by Prospectus in stocks on Jun 27 2:53pm

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