MAC -.15 LONG ~ Entered under just oversold conditions rather than at a key support level. Was too tempted with the extreme half-buck drop it took after a nice climb this morning. However, $9 was clear significant support – opening range and yesterday’s low (as well as on Monday) buying it a quarter above from is in no man’s land. MAC dropped more and then bounced right off $9 predictably – a quarter as of this writing. It’s possible where it’s at now may be a good entry for shorting if it’s going to finally break through $9, my exit rules still say stay in as of now if I had longed at $9.
LNC +.17 LONG ~ This one I entered at support and oversold levels, also at $9, though LNC was way more bullish with a major gap up and not as steep sell off morning highs. I, however, sold to preserve profits and at least left a quarter on the table. Exit rules would still have me in this trade currently if I had the discipline and self-compliance to follow my own guidelines – in a paper trade at that!