Closed Trades: BHI, HERO

I'm two days behind in my log.  I closed BHI.  This trade was very similar to my  GBX trade.  Great entry, great breakout and then a fade which I sold into.  I need to define exit parameters better.

Summary:
Long 70.73 May 29
Sold 72.89  + 2.16 2.96%

I could have stayed in as there was no reason to sell other than to protect my profits, which in itself is a reason to sell.  I think I would have done better to sell off a portion of the trade into the rally.

HERO:

Hero got slammed after revealing that it had forgone a contract in Angola and one of its rigs was out of operation, which is too bad because things had looked like they were turning around and a multi-week - month upside move would begin.  Anyway I went long after the carnage at 4.07 as it looked like HERO had bounced and was beginning a reversal move.  I thought a 10 % move or more to the upside in a day was likely.  It didn't happen the bounce got faded as the boarder markets sold off.  I kept my risk minimal selling at 3.95. for less than .5 R.  When trying to catch a falling knife, you can get cut just don't get stabbed.

This may be worth another look as multiple insiders were buying around 4 in an attempt to stop the drop.