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.