My trade of the day came in HD which happened to be on my long list as a possible gap continuation play. Price sold off hard for the first 15 minutes of the day making HD look more like one of my 9:45 am wide range bar plays short. As price action started to retrace, I entered HD short on the first 15 minute sell that triggered at 11:15 am reversal time. Price soon put in a small green bottoming tail bar but then was taken out by another red bar where I added more short and reduced my stop. After 1 hour and 15 minutes price started to break down and soon HD was at my first take profit area of .80 where I covered 1/3rd of my shares. Price then fell in a flurry so I covered another 1/3rd @ .66 and covered a few more shares @ .63. I attempted to add back to my play in HD but soon found myself stopped out of my last few remaining shares @ .76. A great play on a day that I felt a little rusty since I had taken off Monday and Tuesday from trading.
HD 04232014