The CWEI (Clayton Williams Energy) short trade opened at 83.41 on Oct 20th on a gap below the short entry trigger of 84.30. As such, 83.41 is the entry price used in the profit calculation to the first target (74.22) which was hit on Oct 24th for a gain of 11% (or 7.7% gain equivalent when accounting for the 0.7 suggested beta-adjustment to the position size). The stock continued lower after hitting the first target, reversing about 2/3rds of the way to the second & final target & went on to exceed the suggested stop of a 60-minute close above 87.42. CWEI will now be moved to the Completed Trades category.
CWEI First Price Target Hit for an 11% Profit, Then Stopped Out