Market Curiosity: Exploring Markets And Systems

January 18, 2011

Short ENDP on backtest of channel -3%

Filed under: -0 to -4%, Mistakes, Short Stock — Tags: , , , — Jeff Fitzmyers @ 9:06 pm

Sell stop around 34.
Stop loss around 35.60.

– Price in the channel seems to be mostly distribution.
– Monthly and weekly CCI’s down sloping.
+ Daily CCI is very low.
– There was a backtest of the channel, the breakout gap, and the 5 EMA all at once.
– 34 EMA starting to trend down.
– Todays bar opened above yesterday’s and then closed lower on pretty good volume.

Jan 18th: Just exited at 34.97. Don’t think it will work out so I did not wait for the stop to be triggered. If it was going to work out, it likely should have by now. I guess this is a “failed” breakout?

Jan 22: Incorrect stop placement. Lesson: If the trade looks okay, but I don’t like the risk It is much better to reduce the position size than have a stop too close.

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