Tuesday, December 23, 2014

Closed BABA, CPA

I got stopped out at 107.89 as It crossed the 6EM, which I used to trail this position. BABA's breakout couldn't get going as much as I would have liked, nonetheless, I exit with a  profit.   The take away, is that I'm much better buying closer to the 50MA.  I wasn't perfect, but that was the difference between this trade that was a winner and one that break out buyers lost.   We'll see if this is as back test or something more tomorrow. It bounced right at the trend line, right at the 50MA.  If it trades up, I'm not opposed to going in again. 

Entry: 106.25
Exit: 107.82

I caught a nice move in CPA on the second go at this stock. but now after 4 days, its best to book profits. Most rallies have a 3-5 day life span. It's best not to test fate.

Entry: 97.70
Exit: 101.60

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