Saturday, August 25, 2012

Deck, successful trade and watch

Deck was another stock that I found through Ibankcoin and this turned out well for me. I do not remember their entry or exit, but once again I was behind them. As you can see on the chart, I entered after my first green count back line was broken and even though not shown, the downtrend was barely broken. I set my intial stoploss @ $44.33. Once Deck hit it's current high of $51.65, I moved my stoploss to $46.20. That put me in the money unless it opened prior to the markets opening below my entry point. For some reason that I do not completley remember, I moved that stoploss extremly close and took a profit at $49.75. I'm pretty sure it had to do with the markts sounding and looking negative and the second fact that the Fly had already closed his position. I'm happy with the profit. 
Now to me, it looks like Deck is creating a Bullflag, so it is in my watch list to re-purchase. I would like to see it fall a day or two further so my count back line for re-entry would move down below the current high. Right now, by my rules, I would need a breakout through $51.65 before I could buy. 

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