Loss ranged from $177, $378, $440 depending on the account. Stops are stops. Luckily this gap got semi-filled and allowed my order to fill..otherwise the losses would have been bigger.
Nonetheless, the only warning sign this gave was a %R violation...but that violation occured outside the Accel bands, since I need 2 signals to fire, I didn't panic over that. Also yesterday's gap was based on a Market Perform initiation by William Blair. 13 day EMA was held at the end of the day.
Charts:
Daily:
4hr:
28-JUL-10: So a nice leader of the IBD 100 retested outside the bands yesterday and I decided that it was worthy going long ARMH.
Went with Oct $12.50 calls at a cost of $3.29 (yeah I somehow got filled at that price with a limit of $3.30)...all my options trades of late have been as close to 90 delta as possible so that my ATR position sizing formula works to some extent even with options...so I dont get stopped out prior to the actual stop on the stock like UL...(PS I re-entered UL in the taxable account today since it retested...the retest was inside the bands but it demonstrated support at the 13 EMA)
In any case charts follow.
Daily
4hr
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