Shared by
Jerry_C_BOWS
If i had just waited another minute, I would have recognized that this was not the right time to short this stock. Instead, I hit send and ralized my mistake.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-06-11 13:26:44 | GERN | sell | $2.600 | short |
| 2014-06-11 13:32:41 | GERN | buy | $2.660 | 0 |
Comments
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Hmmm...looks like a pretty good bear flag to me. Good down volume, and no support until 2.50 on the daily chart. In fact, I would expect it might turn into a fake breakout and retrace to 2.50 (which it came close to after you got out).
Only thing I can suggest is to try and get into the flag a couple cents higher. That's a lot easier said than done - I only manage to do this about 50% of the time (because I often don't see the flag until it looks like it's about to break, so I get in wherever I can). But when I can get in a few cents higher, it gives me more room to ride out bumps (like what happened on this one), and gives me a few cents more profit. Over time, those few cents more profit add up.