Counter Trend Trade 7/20/11: $100 Risk, $615 Profit

Here is a position I just entered after-hours on 7/20/11. The trade is a counter trend trade, with "initial" short signals being given. The risk on the position is $100 and the profit potential is $615. I want to be very cautious when taking counter trend positions, therefore my stop is currently at the major swing with a reduction to the following major swing likely once conviction in the short direction occurs, if it does. Here is the chart, I will update what decisions were made / what happened in the morning! Good night!