I was to early on my first entry. The stock had opened below the 50 SMA so as it bear flagged I was thinking we would see buyers flow in. I went long 200 shares at 60.17 and had a mental stop at 59.72. The stock broke above the VWAP for a hot second but then came crashing back down after hitting the 9 EMA. I stopped out of my position at 59.62. I needed to be more patient. This was a bear flag but my long bias clouded me from seeing it at the time.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-03-26 09:47:32 | PTCT | buy | $60.170 | long |
2015-03-26 10:03:24 | PTCT | sell | $59.620 | 0 |
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