Wednesday, July 23, 2014

Closed EJ, LNG

I got a couple of nice moves.

Three good days in a row.  Decided not to tempt fate. Sold

Summary:  I got a good move there is probably another day left in this move.  Had I taken twice the position, I would have only sold half. But my position size was a product of the number and size of other positions I had on when the position was taken.

Entry: $9.79
Exit: $10.94  + 1.15  11.7% 1.05R

After a false start after buying LNG regrouped and re-broke out and hit an all time high. Less volume today.  So I decided to close the position selling into this strength.

Entry was not great  I bought four days after the range breakout.  On a weaker industry group that probably would have crushed me.  LNG has been strong all year (and then some) which gave me another chance to re-enter.  In the future, I'd be better to buy closer to the 20MA

Enter: $72.46
Exit:  $75.92   + 3.46  4.77% 1.2R

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