Shared by
BenLbTrading
I caught this stock on thestockmarketwatch.com as a morning gapper and it just exploded at the open. I set a limit order and caught the very bottom of the first candle $.04 under my limit. I was so shocked at the fact that I showed $1000 profit in about 90 seconds that I didn't manage the trade correctly (bought 50 more instead of selling it, but that worked out ok actually) and bailed completely right before another $2 pop because I was afraid of it dumping just as fast as it popped.
I'm done for the day as market gap up days can be very choppy and I would probably give it all back with bad trades.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-12-18 09:30:01 | OVAS | buy | $41.960 | long |
| 2014-12-18 09:30:33 | OVAS | sell | $45.870 | long |
| 2014-12-18 09:31:55 | OVAS | sell | $46.690 | long |
| 2014-12-18 09:35:30 | OVAS | buy | $45.925 | long |
| 2014-12-18 09:36:23 | OVAS | sell | $47.880 | 0 |
Comments
ChristopherBlanco_BOWS
Saint11_BOWS
I see that there was 2 high red volume bars right before the explosion.....what are your thoughts on that? Is that not a deterrent?
BenLbTrading
I was watching this premarket and it already had a setup that I liked but unfortunately TraderVue doesn't show pre or post market data on the charts. I got this because it seemed to have a TON of pre-market interest. It could've had a dump at the open and I would've bailed quickly as it was the only thing I was watching.
Also, 42 was a nice round number so I set my limit order there and was really only expecting a small pop at the open and got a big one instead.
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Was there any specific reason or method to picking this stock? You're gonna have to go live soon!