Monday, April 15, 2013

STX bull position closed

STX gave an exit signal today, and I've closed my bull position for a loss. I've updated my entry posting of March 14 with details of the exit.

The velocity of the price decline was so powerful that I didn't attempt a strategic exit but instead swallowed my medicine.

The exit was especially difficult because the position was built, in part, out of options expiring at the end of this week. There simply wasn't a lot of liquidity in that market.

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