Friday, June 20, 2014

Closed: GBX

I got a great breakout out of the consolidation.    The catalyst was a huge order for rail cars worth  $960 million.  I  bought at 56.38  and Sold at 58.92.  Although I made a good profit this was not a good trade on the exit side.

I hate it when my stocks gap up because it forces a quick decision and I made the wrong one.  This stock gapped up over 3 points up to $62.96 That type of move is something I typically want to sell and I tried but it sold off the gap fast. I  had a  limit order at 51.95.  Had I hit market I could have gotten out at .90  that .05 cost nearly $2.00.  I sold today as the gap was filled as I did not want risk giving back all my profits.  

Trade summary bought 56.38  and Sold at 58.92.  + 2.54 for 4%
Holding: 14 days

There is a decent chance that support will be found here and the move will resume but it will do so without me.

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