The trade on EnerNOC (ENOC) worked out far more quickly than I anticipated... in no way, shape, or form is it normal for a stock to fall to its 200 day moving average and then turn on a dime and vault higher - especially a stock that has taken a beating for about 10 sessions in a row. But much of the current market smells of not normal and we see the exact same behavior in the indexes over the past 6 months, so I guess I should not be too surprised.
As EnerNOC runs into some resistance we're going to take 2/3rds of the position we put on Monday off the table. I had put a limit sell order out around $27.70 on Tuesday, not expecting it to hit anytime soon but here we are.
If the stock gets over $30, the chart will be in far better position and we'll most likely get back the 2/3rds we sold off. Until otherwise proven, we assume it will falter before then.... happy to be proven wrong.
Long EnerNOC in fund; no personal position