Monday, April 7, 2014

LULU closed

I bought this bought this because it had a nice divergence on the MACD, when it failed to go lower-- higher lows and it got a good move after earnings.  I was targeting a close of the gap to 57.25  But the overall markets started to sell pretty hard and although LULU held well for two days into the sell, on the third day it gave back over $2.50.  I had  hoped that it would  catch a bid given its relative strength and doubled my position with a tight stop. In hindsight,  I should have waited for the broad market to wage a come back or I could have held my first position longer and looked to take partial profits at the 55 mark.

But no real regrets for this trade given the choppiness of the market. Closed the position out for $163.  Nothing to brag about but it could have turned into a loss.

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