Monday, March 16, 2009

Monday Trade 2

This was a counter-trend short, I waited for the breakout of this bull flag and waited for long tails to form or something else to show me longs being trapped. All I did was short 1 contract looking for a small selloff (2 points) doing smaller size because of the possibility for a big short squeeze. Bad execution on my part only got .5 when I could easily have been filled with 2, just a little too anxious. Charts and analysis below:
Trade 2 Snapshot