Original notes: Swing stock, flag break at $6.35, then $6.45, stop $6.28 under low of last flag. At the end of day one stock was up 1.3% to $6.53 and had closed at the high of the day. Will monitor tomorrow morning for volume and proper support. Sold 200 (just under half the position) for $60 profit at $6.73 3/8/12. Sold another 150 3/9/12 for $73.50 profit. Sold the rest 3/9/12 a few hours later $6.91 for a $72 profit. Total profit 205.5 minus commissions of $26 for 1 buy and 3 sells = $179.50
New notes: This actually looks more like a red to green play off a rubberband snapback setup in retrospect. The buy at $6.43 coul dhave been a flag break but I can't see back that far on a 5 min timeframe so I don't know. Overall though this setup doesn't look very strong and seems to be one of my earlier trades that was more luck than skill.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2012-03-07 11:32:16 | MHR | buy | $6.430 | long |
2012-03-08 11:24:09 | MHR | sell | $6.730 | long |
2012-03-09 11:30:31 | MHR | sell | $6.920 | long |
2012-03-09 14:24:40 | MHR | sell | $6.910 | 0 |
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