16 Apr - post CB of 12 Apr (21.6, 19) using 21.7 - 18.9 = 2.70 risk share, 0.5% equity would be 299, 299/2.70 = 110.74 shares, Requires close less than my buy stop loss or else would trigger at market.
Placed a limit at 21.7 for 110 shares.
April 17, 2012
Bought 110 SAVE @ 21.7 using an limit order on a post CB trade. Set initial sell stop loss at 18.9, which is the 20 day low minus 0.10
17 Apr, 0.5% equity is 300, 300/110 = 2.73 risk per share, 55 day high is 22.59, 22.59 - 2.73 = 19.86, set sell stop loss to 19.86
18 Apr, 0.5% equity is 301, 301/110 = 2.74 risk per share, new 55 day high is 23.48, 23.48 - 2.74 = 20.74.
20.74 - 21.77 = -1.03 x 110 = -113.30 gross trade loss.
19 Apr, 0.5% equity is 301, 301/110 = 2.74 risk per share, 55 day high is unchanged at 23.48. 23.48 - 2.74 = 20.74, unhanged. 20.74 - 21.77 = -1.03 x 110 = -113.30
20 Apr, 0.5% equity is 301, 301/110 = 2.74, 55 day high is unchanged, no change to sell stop loss
23 Apr, 0.5% equity is 300, 300/110 = 2.78, 23.48 - 2.78 = 20.70. 20.71 - 21.77 = -1.07 x 110 = -117.70
24 Apr, 0.5% equity is 298, 298/110 = 2.68, 23.48 - 2.68 = 20.80, 20.80 - 21.77 = -0.97 x 110 = -106.70 (wrong after the fact 298/110 = =2.71
25 Apr, 0.5% equity is 299, 299/110 = 2.72, 23.48 - 2.72 = 20.76, 20.76 - 21.77 = -1.01 x 110 = - 111.10
There is also a five day condition with 55 day high of 23.48 and 20 day low of 19.00. 23.58 - 18.9 = 4.68 risk per share. 299 risk / 4.68 = 63.88 round to 64 shares, 64 x 23.58 = 1509.12, put in a buy stop loss for 128 at 23.58, 18.9 would be the initial sell stop loss.
Here's an update, the inital enthusiasm wans and postings fade in frequency. I now have two positions on SAVE, which is Spirit Airlines. SAVE made the news recently with new $100 charge for carry on bag. Bad publicity, good for profit?
23 Apr, 0.5% equity is 300, 300/110 = 2.78, 23.48 - 2.78 = 20.70. 20.71 - 21.77 = -1.07 x 110 = -117.70
24 Apr, 0.5% equity is 298, 298/110 = 2.68, 23.48 - 2.68 = 20.80, 20.80 - 21.77 = -0.97 x 110 = -106.70 (wrong after the fact 298/110 = =2.71
25 Apr, 0.5% equity is 299, 299/110 = 2.72, 23.48 - 2.72 = 20.76, 20.76 - 21.77 = -1.01 x 110 = - 111.10
There is also a five day condition with 55 day high of 23.48 and 20 day low of 19.00. 23.58 - 18.9 = 4.68 risk per share. 299 risk / 4.68 = 63.88 round to 64 shares, 64 x 23.58 = 1509.12, put in a buy stop loss for 128 at 23.58, 18.9 would be the initial sell stop loss.
Here's an update, the inital enthusiasm wans and postings fade in frequency. I now have two positions on SAVE, which is Spirit Airlines. SAVE made the news recently with new $100 charge for carry on bag. Bad publicity, good for profit?
| Share Symbol | Share Sell Stop Loss Price | Share Equity Percent Allocated | Share Equity Allocated | Share 55 Day High | Risk per Share | Share Trade Gross | Number of Shares | Average Cost per Share |
SAVE 110 | 21.89 | 0.50% | 303.71 | 24.65 | 2.76 | 13.09 | 110 | 21.77 |
| SAVE 128 | 19.90 | 1.00% | 607.42 | 24.65 | 4.75 | -481.98 | 128 | 23.67 |
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