Wednesday, August 13, 2014

Closed: DSKY

After a slow start, my DSKy trade turned out pretty well.   I sold 1/3 off this morning on the gap 18.74 and the remainder at  $18.05 because I did not like the sell off at the end of the day. 

In sum, in at  $16.74
First out $16.10  (l-.64) 
Second out, $18.74  + (2. 00)
Third out $18.05 = (+1.31) 

Since it's an IPO not much to show in the way of the chart,  Ultimately cutting my position size was the key here as it enabled me to ride higher despite a slow start in this IPO. I correctly believed that I would make up for the initial loss if it did get a second wind like other chinese IPOs had done.  While it did not turn out to be the 2.25 R trade it could have been had I not cut the position, I end with a .5R single and I'm fine with that.  

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