This was a spurious trend-following buy. There was no particular reason for it. I was just following the trend hoping to make back a bit that I lost. I will look to close before earnings.
Oct 16/Mon: I'm toying with the idea of not selling before earnings and holding on. Earnings is on Wed after close. AA has been doing well as has its competitor, RIO. Aluminum prices have risen as well so profits should be better. BA and some airlines seem to be doing ok though not all of them are doing well. So it's a bit of a hit and miss I think.
My trade is invalidated if AA closes below $46.40. No point to calculate R/R because I bought at a lower price than my invalidation point. My trade is validated if it closes above $49.32 which would give me a total of 4R and change.
Oct 24/Tues: AA closed above $50 and above a key resistance level. Tomorrow will indicate whether the uptrend will continue or not. If so, I will purchase an additional set of shares... maybe 250 - 500.
Nov 2/Thurs: looking to sell and get out. I don't think it will go much higher. Waiting for a small rally and then I'm gone. Danger signal ahead.
Nov 3/Fri: something just doesn't feel right. Got out for a small loss.