WEAT Pull back entry
Updated
WEAT had an optimal breakout from VCP pattern on 5/11 but price and volume action got tight again and it offered a pull back entry on a natural reaction after 3 lower lows on low volume into the 10 DMA.
Trade closed: stop reached
Stopped out on the vert next day. Trading is about using your capital very efficiently, if you are gonna get stopped out, better it be quick so you don't waste any time. Yes, it is frustrating but it was a pilot position and only with less than a tenth of a percent hit to the portfolio. I use this pilot positions for feedback and to keep a pulse on the market. It doesn't matter if we already bottomed on this market, volatility is not good for swing trading and until volatility comes down I won't be aggressively invested. Back to 6.75% overall invested. 4% up for the year and 22%+ Alpha overt the SPX.
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