Doubled position @ $47.96 as it rebounded off its higher-low and reclaimed the anchored VWAP from its day 2 breakout, giving me an average price of $46.22. Stop loss raised to $43.20 but still under the PEG anchored VWAP , giving me roughly a $3.00/share risk on the entire position which results in about 50bps of risk in terms of the overall portfolio.
Looking to add size to the position one more time if it can break out over the day 3 high around $49.30, at which time I will raise the stop loss to accommodate for the new risk.
Looking to add size to the position one more time if it can break out over the day 3 high around $49.30, at which time I will raise the stop loss to accommodate for the new risk.
Comment:
Cut size in half at $46.17. Poor price action as big morning rally faded all day. Will look to add size back if the remaining position does not get stopped out.
Trade closed: stop reached:
Entire position closed. Small loss.
