12/27/13 WLT Long

Stock: WLT

Entry Price: 16.48, 2400

Stop Price: 16.18 / 15.93

Price Target: 18.60

Return $: 5088

Risk $: 720 / 132

Reward/Risk: 7.06 / 3.85

Strategy: Swing, pattern breakout

Reason for trade: Major cup and handle after double bottom on weekly chart, break of inv. h/s on daily chart, bounce from rising major channel line after two tests, break about major resistance line of 16.40 and 200ma.

Actual Sell/Stop out Price:  16.68, I wanted to lock in $400 profit that I earned from this entry and re-enter at 16.27, which I felt through intuition + support + a doji forming would eventually happen. Always good to lock in profits i guess.

Mistakes:

Notes: New term learned, January effect, is the more likely than not outperformance in January of underperforming stocks from the previous year.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s