"Trading the Evidence" Trade - CLF

I entered a trade on Friday, following the basic premise in the "Trading the Evidence" video in the Learning Center.
Trading the Evidence Video

CLF 4-week seasonal trend started Monday, March 12 - UP trend, with average and median return around 15% over the last 10 years - you won't see too many trends better than that.
CLF 4-week Seasonal Trend (Must be logged-in to RTT to see it)

On Friday, on the daily chart, the moving average lines crossed going up, indicating a possible entry. I bought before lunch. On Monday and Tuesday, CLF was mostly flat (slightly up overall). But today, CLF gapped up and is currently +$4.50 for the day.

Trendtrader1,

Excellent entry....I was stalking that one since Wed. 3/7 and again on 3/8. I got too busy at home and was not able to get in. I saw it today and wanted to kick myself. It was a beautiful setup. I first noticed it on the 55 chart and it just kept transferring over to the next bigger chart. Good job!!!

Now that's the way to trade isn't it? Good job!

Thanks! I've been working hard on staying unemotional during trades - it was tough when I saw that CLF gapped way up this morning. :-)

brcurley - sorry you missed it. I certainly know that feeling of watching a stock for an entry and then getting distracted and missing it - I have experienced that quite a bit recently.

Yep I think that the pain of missing a trade is worse than losing!

I exited the trade a few minutes ago.

Traded the CLF April 60 Calls:
Bought for $6.20 last Friday (3/9)
Sold for $12.40 today (Thursday 3/15)

CLF may continue to rise - it has been on fire the last 2 days. But it is at the top of the daily bollinger band as well as the 200-day simple moving average...so I took the 100% gain (minus commissions), and time to move on to the next trade.

Those are such sweet days. They make up for the days when you get coal in your stocking!

Been away for past two weeks. Came back to find some excellent trades have been made. Congrats!!