Dummy Trade of the Day - Continental Airlines, Inc. (Public, NYSE:CAL)

CAL gapped down on strong volume. The OR was a wide doji like stick. It was followed by a feeble attempt to bounce. The third bar was almost a bearish engulfing type bar. The market was very weak and I decided to short CAL as price took out $44.00 on the third 15 bar. Technically, I should have waited for the third bar to complete itself, but this was more about feel and I knew if I waited, I'd have a hard time getting in. I took a partial profit as price tagged support of last Thursday's high. I was stopped out on the balance about an hour later.