Shared by
EliBrown
Stock gapped up on a PR. I liked the daily as it had lot's of air space to make a move and also the high pre-market volume. The stock cracked below the VWAP during pre-market. I was watching for an ORB and a break back above the VWAP for an entry. It found support around 3.20 and began making higher lows. I entered 1000 shares at 3.38 as it broke above the VWAP and pulled back slightly before spiking. I had a hard stop at 3.30. I scaled out 300 shares at 3.56 and 300 at 3.68. I held onto the remaining 400 a bit to long and sold them flat at 3.38. Stock was showing a strong reaction to the VWAP so I should have been looking to exit as soon as it had been tested to make for a larger gain. I should have also sold off more shares into the parabolic move, saving a bit less for lotto.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-03-04 10:08:53 | CNDO | buy | $3.380 | long |
| 2015-03-04 10:19:02 | CNDO | sell | $3.560 | long |
| 2015-03-04 10:23:36 | CNDO | sell | $3.680 | long |
| 2015-03-04 10:51:33 | CNDO | sell | $3.380 | 0 |
Comments
EliBrown
Yeah I was a little bit late on the trigger with the last few shares. Probably should have trailed a hard stop up instead of using mental stop.
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Nice anticipation and scale out. Might have been able to protect more profit selling the remainder when the 9 ema broke.