Closed FACE short position with 5% profit in 5 days. FACE still looks oversold, but this trade hit the target of 1% profit per trading day, so I'm not being greedy and closing it out. As you can see from the chart, FACE either jumps around wildly or does almost nothing, so take my philosophy is to put the profit in the bank before it makes another wild jump in the wrong direction. This stock is very lightly traded so even though these quick gains are possible, trying to trade more than 1000 shares at a time is going to mean fills are uncertain.
This is the third FACE trade I've made which made 5% in 5 days. All three are shown on the graph below.
5% in five days - closed today
5% long day trade - Jan 3
5% short day trade - March 3
In hindsight a buy an hold with an opening price of $3.55 and a sell at $5 would have had a profit of 40% in two weeks. But on a small, thinly traded and insanely volatile stock like FACE, the psychology of how much profit to take and when to take it would have driven me crazy. Plus there was no real indication of a sustainable uptrend in this chart. I prefer the control of timing moves in one direction and banking the profit immediately.

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