Trade Entered: 300 SWN at $39.77
Trade Setup: I entered based on the earnings-breakout-pullback setup. The stock, reacting to earnings, broke to new highs on heavy volume last Friday. The stock and it’s sector have been in an uptrend with strong volume patterns. I bought on a pullback to the breakout point.
Stop: Below breakout point and today’s low.
Target: Recent high around $45 is the initial target.
Concerns: Sector selling off with possibility of rotation. However, major support has not broke down. Still, enough of a concern to go with a smaller than normal position size.