Sunday, April 13, 2014

Closed BAC

I bought BAC on 2/8/13 @ 11.85, The financial sector had shown strength after being decimated.  I bought within a consolidation period.

 I used the 30 Weekly Moving average as my stop.  After an initial move being able to monitor to switch my monitoring of BAC from a daily perspective to a weekly perspective enabled me to catch a very nice move. It would have been nice to stay in this position longer as it had picked up some pace to the upside over the past month (reaching a high of 18), but rules are rules and we have a red impulse bar that breached the 30 MA.

The position was closed on 4/11/14 at 15.72  +3.87 (.04 dividends)  32.65% gain (long term capital gain).

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