PAPER TRADE (LOSS)

• Setup: -------------------------------------------------------------------- HOD Break/Daily Range Break/Earnings Play
• Entry: --------------------------------------------------------------------- $9.29
• Shares: ------------------------------------------------------------------- 1000
• Stop: ---------------------------------------------------------------------- $9.19
• T1: ------------------------------------------------------------------------- $9.50
• T2: ------------------------------------------------------------------------- $9.75
• Reward:Risk Ratio (T1): -------------------------------------------- 2.1:1
• Exit: ----------------------------------------------------------------------- $9.25

• Profit/(Loss) With Commission: -------------------------------- ($53.00)

• Details:
  HOD break/daily range break, 1000 shares. PHM put in an early high so I bought on the break of that high. They also had earnings and it was close to breaking out at $9.35 on the daily so this was a little anticipatory. I figure it would run at least to $9.50 since that was the next resistance spot on the daily. I set my original stop at $9.19 (10 cents) with a target of $9.50 (21 cents). Once the stock moved above the breakout spot on the daily ($9.35) I moved my stop to $9.25 to minimize my risk. Unfortunately it wasn't quite ready to break out. The volume was there and the setup was good but the resistance was just too strong so I stopped out for a 4 cent loss. Overall a good trade, but I should have kept it on watch because later in the day it exploded like I thought it was going to and ran to $9.50+.