The DAL short is one of several active short trades that actually exceeded the previously posted suggested stop parameter but still looks fine from a technical perspective. In decided how to manage these trades on the site, I figure that I have two options: 1) Consider the trade stopped out and remove it from the active trades list then add it back on as a new trade idea or 2) Just leave the trade as active as suggested stops are just that… a generalized suggestion of where to place a stop(s) based on the charts at the time. For the sake of simplicity, I’ve decided to leave these trades as active.
In the case of DAL, the previous suggested stop was exceeded by a mere 1.0% (one percent) before the stock reversed and became profitable. T2 remains my preferred target and I think the next break below the 13.55 area will likely be the catalyst for the next wave of selling. As far as stops for those still in the trade or considering taking a new position, DAL appears to have begun a new downtrend as viewed on this 60 minute chart (lower highs and lower lows). Therefore, any move above this blue downtrend line would call the near-term downtrend into question so an objective stop could be placed not too far above that line.