700 shares. Attempted to play a continuation move from yesterday's breakout of the flag. I bought at 8.60 after a strong uptrend pushing to the high of day. I was aiming for a high of day break but it didn't work, bounced off the HOD and then faded back so I sold manually at $8.42. Looking back at the trade now it was definitely the wrong play because there was no strong volume during the whole uptrend from $8.30 to $8.60 (9:50am to 10:35am). Potentially I could have played the dip since the stock gapped up, then faded to $8.30 in ten minutes and bounced there. Still there was really no setup and this was mostly an emotional trade I was trying to make work because I missed the big move the day before thanks to having a dentist appointment. Should not have let emotion take over because this trade did not fit my profile very well.
Another note: This trade is very similar to my RENN trade from 4/13/12, which also did not work. I nee dto stop trying to make this setup work!
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2012-04-03 10:32:16 | SWHC | buy | $8.600 | long |
2012-04-03 10:53:04 | SWHC | sell | $8.420 | 0 |
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