Brunswick Corp. (BC) stayed above \$11.00 as we began the week. I placed a stop at Friday's high before the open today to be executed at 10:30am. When I got back at lunch, I found that my stop was triggered as soon as it was sent. Luckily, it was also at the time when BC retraced the open's gain slightly. So it was a good price to be out since BC has closed above \$12 today (Figure 1). This trade was entered last Friday before noon at 1.95, when BC was trading at 10.81. This represents a loss of \$65. For this particular trade, I adhered to my exit strategy (even though it was a loss), so that's good. For the entry, I could have waited later on in the day on Friday to see how the market performs as we approached the end of the week. If I had done that, the reward/risk would have been better. But I think I would have entered short anyway since the sign were pointing downward when BC hung back to around \$11 at the close after breaking above \$11.20 intraday on good volume. And the fact hat the market was consolidating too. Looking at the long term, BC has retraced all its loss since the dive last year. For the market, S&P500 has etched higher today too but is still about 10 points below last week's all-year high. The volume for the overall market is noticeably lighter too. So this uptrend can possibly continue up as not many is riding this move. We shall see how this goes. As can be seen from Figure 2, BC at \$12 has some resistance above to \$13. For the lower end of the range, we have \$9.60. A break below \$9.60 would signal a stop of this recent bull train's momentum.
[caption id="" align="aligncenter" width="580" caption="Brunswick Corp"]Brunswick Corp[/caption] [caption id="" align="aligncenter" width="580" caption="Brunswick Corp. 2-year chart"]Brunswick Corp. 2-year chart[/caption]