Shared by
Markmandy54
Great gapper, massive volume, flagging intraday. Stop -.10, Target +.25. Rolled over and stopped out.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-05-29 09:43:42 | XGTI | buy | $2.840 | long |
| 2014-05-29 09:45:47 | XGTI | sell | $2.740 | 0 |
Comments
youngmoola000
Yeah it was pretty extended after the pre-market run. Also the sell volume on the flag was pretty big. A simple way to look at it is to look at the bars on the volume. If there's huge red bars it means long's are dumping and sellers are starting to step in. You want to see large green bars on the run up and small red bars on the pull backs and vice versa if you're looking to short.
Markmandy54
I agree with you both as it had run fast and hard. The reason why i was ok with that as many big movers lately have run for 3-4 days and this one looked good for all day (as last time fell to this area it ran up to $5 back in march), there was a very clear stop, and i saw a 2.5:1 R:R which looked great and i could load up. Even in hindsight, i still look at the chart and think high probable setup with good R:R.
Here's what i saw:
http://i.imgur.com/veiCzHk.png
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idk if this will help, but I'll definitely give my opinion! I think maybe you pulled the trigger on this one too early... This stock gapped up 40ish% at the very open, climbed an additional 30% and that's where you bought it... While it's possible for this stock to run all day, it did just climb an additional 30% in one 5 min candle. That's a lot to run really fast. In my humble opinion, a stock that runs that fast you would ideally want to see it flag for longer and catch its breath...