Here is the delayed post of last Friday's limited practice trading. It was a busy afternoon, having to finally make a run to a recycling facility so to properly dispose of my own home-construction waste as well as that generated from customer projects over the past week. Why do I bother mentioning that? Because the facility closes at 4:00pm and I decided to leave with an open short trade in TNA with an entry at $71.12. I returned after the market close to discover a decent gain accompanied by an acceptable sell signal (ramping volume with moderate downward price rejection) was presented around 3:10 pm then later a more dramatic sell signal (volume spike plus significant downward price rejection) at 3:35 pm. After that final sell signal, a reversal had taken place and I was near breakeven in the trade.
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Monday morning finds the futures up and my practice-trade now sharply under water. I have a customer appointment this morning and have been given permission to come and go as I please because they are not at home anyway. I haven't decided whether I will stay and watch the stock at the open or whether to just let it go and return when the my real job is done. Either way, the trade served its purpose and ended its usefulness when it went positive and presented an opportunity for gain on Friday afternoon.
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