VIT- We took some nice profits on this one but we missed the 7.6% pop. Ouch! Our thought process was the following. We saw a nice high probability entry point and it triggerred on Feb 8. The stock ran 13% and then pulled back near the 50 day moving average in a somewhat questionable market. The combination of a big move over a short period of time into resistance and a weak or at very best indecisive market told us to lock in profits and look to re-enter down the road. We closed out the trade on Feb 22 when it was still up 10%. Moral to ths story, You can't catch every move and there will always be another big trade just around the corner. The market is getting slammed today like we thought it might and this stock could have tanked as well.Normally we would have sold 1/2 and trailed a stop but the market was looking so toppy Looking at this risk reward sceanrio of this situation we would manage the trade the same way.
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