A recent IPO that I thought I would try for a long as it seemed to find a base at 16.75 area on the daily. A flattop breakout was forming on the 5 minute chart but I bought to early resulting in a poor entry price at 19.26. The stock pulled back just above the VWAP and broke out. I scaled out as the stock made new highs. In hindsight I probably could have loaded up more shares as the stock pulled back to the 9 EMA and launched back upwards making a HOD at 19.95. IPO's are fairly wild and I didn't have the greatest confidence in the set-up to begin with. With that being said, although I had a gain, this trade should not have been taken.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-02-09 12:22:00 | BOX | buy | $19.260 | long |
2015-02-09 13:43:00 | BOX | sell | $19.460 | long |
2015-02-09 13:46:27 | BOX | sell | $19.600 | long |
2015-02-09 14:25:06 | BOX | sell | $19.710 | 0 |
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