Shared by
jmos_BOWS
Play: Bear flag
Once again, market was breaking down past resistance so expected some type of flush which we never got.It just bounced. Could have taken profit at 31.6 but was thinking that it was bear flagging and it looked like it was going to break down again. It didn't and just bounced so i got out flat.
I need to keep in mind that after a big flush, the market will probably just sit around so any little flush, I should be taking profit in it.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-09-25 13:54:46 | FEYE | sell | $31.750 | short |
| 2014-09-25 14:45:05 | FEYE | buy | $31.760 | 0 |
Comments
jmos_BOWS
Agree, this flush caught everyone by surprise I think and like you said, by the time I wanted to get into something, everything had dropped a buck so it seemed risky. But for some reason, I thought that taking this trade after dropping 2$ was ok lol Better to not take any trades if this is the case.
Markmandy54
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Good job getting out when it didn't go. That day was tough. I think everyone was expecting a move up, and when stuff dropped you had to have been ready to get in right away. Most of the things I wanted to short were done by the time I saw them.