Usually my trade of the day is some type of bounce play I
profited on, but I want to change it up a little on this post, and show you a
nice breakout I caught with SHLD today.
Looking on the daily chart, you could see SHLD was just itching to
breakout today, so went long 400 shares at an average entry of 44.80. I was
looking for a profit target of at least 47.00. When SHLD starting to get a
little toppy at the end of the day, I just decided to move up my initial stop from
44.44 to 45.99 which ended up getting hit after I moved it.
Despite holding on to this stock almost the whole day trying to catch
this breakout, I still manage to gain 1.19 points on the trade.
If you want to see what I might be trading during market hours and interact with me during my trading days, just follow me on stocktwits or twitter @tradermike9. Thanks!
