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TRGL - Shorted as part of a pairs trade going long EGY

07/21/2010 01:33 PM by Dave Pinsen

Shorted TRGL today at $5.93, buying an equal dollar amount of EGY at $5.79. Two E&Ps, one with a bullet-proof Altman Z"-score, and the other with one in the distress zone. EGY looks stronger technically too. Actually, this would have been a great pairs trade if I entered it a few months ago, using wide stops: http://finance.yahoo.c...

Using 20% trailing stops on both sides here.

Rating:
4

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  • 07/28/2010 02:17 PM by Dave Pinsen

    Got stopped out of the TRGL short today at $7.01, for a loss of 18.2% on the short side of this pairs trade. Tightened up my trailing stop on the long side of this trade (EGY) to 8%.

    Rating:
    4
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