Monday, June 23, 2014

RBCN: Partial close

Here's one from a few days ago that I have not updated.  Shame on me because that would be a rule break.  It's a partial sale of the position so I'll give myself a pass.

Entry June 4: $7.52 June 4.
Exit June 19:  $8.43 +.91 cents   12 %  (sold off 1/3 of position moving stop on remainder to $8.00)

Summary:  I got a great entry on this trade, I loved the consolidation higher than than the may lows, which I felt gave a great risk to reward entry. Breakout traders would have waited and would be sitting on losses.  I took a big position and took partial profits.  I'm hopeful the bottoming process continues but if not I have moved my stop up to 8.00 as that will ensure this has been a profitable trade if it turns out not to be a great trade.

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