Enough to drive me out of the trade. The 4hr chart was my guide here and the 13 EMA was violated in a violent manner...volume was also high. Lately there had been a massive gap that occured in the MACD divergence...meaning that there was a big divergence on the MACD vs. the chart. Also recently this thing flattened out a bit. There is now a DMI cross that occured. While %R is only now retesting....this is just one indicator...
I had already taken profits along the way on DCTH and due to its low dollar nature now is a good a time as any to exit the trade entirely...any profitable trade is a good one and this was a really good one for me.
Here are the details of this trade (this includes the vigs):
06/14/2010 Bought 5 DCTH Jul 17 2010 14.0 Put @ 4.4 -$2,213.74
06/24/2010 Sold 2 DCTH Jul 17 2010 14.0 Put @ 6.4 $1,268.48
06/30/2010 Sold 1 DCTH Jul 17 2010 14.0 Put @ 7.5 $739.24
07/09/2010 Sold 2 DCTH Jul 17 2010 14.0 Put @ 7.1 $1,408.48
Total Profit: $1202.46 or 54% of original investment
Daily chart
4hr Chart
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