Shared by
EliBrown
Clean daily. Gapped up on a PR in pre-market so I stalked for an entry. It made a nice ORB out of the gate. I waited for it to pullback to the 9 EMA and entered 300 shares at 4.44. I had a stop placed at 4.25. It started ripping and I scaled out 100 shares at 4.86, 100 at 5.03, and 50 at 5.29, I saved 50 for lotto but ended up selling as the 9 EMA was broken. It was looking very extended by this point and it was up nearly 60% so I didn't think it would have the juice to continue higher at the time. I was thinking that if it did pull back and find support I would just re-enter but it didn't happen.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-03-19 10:15:31 | CNDO | buy | $4.440 | long |
| 2015-03-19 10:32:22 | CNDO | sell | $4.860 | long |
| 2015-03-19 10:45:59 | CNDO | sell | $5.030 | long |
| 2015-03-19 11:06:26 | CNDO | sell | $5.290 | long |
| 2015-03-19 11:28:53 | CNDO | sell | $4.980 | 0 |
Comments
EliBrown
Thanks Lawrence. I was thinking about moving my stop to my buy price before taking the last exit but I only had 50 shares and figured if it did pull back to VWAP or 20 EMA and hold I would just re-enter. But yeah, 9 EMA break, not good reason to sell.
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Man.. this was a great trade. Normally, I don't like your last exit as it only broke the 9 EMA. But, I see also the volume pattern change. Nice one.