Bookkeeping: Stopped Out of Allegiant Travel (ALGT) Trade this Morning

The 2.5 percent Allegiant Travel (ALGT) short I put on Monday stopped out at $40.05 this morning. As I stated a few weeks ago I am going to be much more firm with my stop losses on both long and short positions even if it shakes me out. Thus far we can consider my short position shook out...the stock jumped to just under $40.50 and then reversed as the oil up airlines down trade reared its head again. The stock is now back under $39. Looking at the chart I am ok with where I placed the stop..the stock had to shoot through multiple layers of resistance to reach my stop. The main issue is the end of day price is more important than intraday so you can be taken out of positions midday even if the closing price keeps you in the safe zone. But that comes part and parcel with setting stops and letting them take care of themselves.

Back here under $39 the original reasons for shorting remain intact but I only have the 1 percent long stake at this time

Long Allegiant Travel in fund; no personal position