Monday, March 23, 2015

Down we went

If you have been following this blog you will notice we don't get alot of sell signals as of late or at least any trade-able sell signals.  Well we got one today and it was a decent trade.

Again we got the sell signal after the first two 15 min bars of the day - a common occurrence.  The pattern turned out to be a double top right at resistance at 211.03 and headed back to and broke support at 210.28.

I was interested in only playing the 75 cent space between the support and resistance lines.  Ideally I should have sold half and waited to see what happens but since the drop below support happened in the a final 3 mins of the trading day I'm okay with it.

Here was today's trade.

BOUGHT 6 SPY Mar27'15 210.5 PUT @AMEX @ 0.84 
SOLD 6 SPY Mar27'15 210.5 PUT @AMEX @ 1.05 



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