Another trade I could have tried for at the open after the trend line at 60.10 held but again I wanted to wait for a more visible set-up to materialize. The stock made a nice pullback to dual support (VWAP and 9 EMA) in the morning but I didn't take it which wished I would have. I went long 100 shares at 63.80 a little bit later as it was flagging. My mental stop was at 63.40, just below the 9 EMA. It broke below the 9 EMA for a hot second but it had a decent volume spike on the 1 minute so I held on thinking it would hold. I sold half my position at 64.66 and the remaining 50 shares at 64.08 after it had broke below the 9 EMA. This wasn't a good reason to sell at this time in the day and I probably could have waited to see if it would make another run but luckily I got out before it started pulling back into the close.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-03-27 11:04:21 | PTCT | buy | $63.800 | long |
2015-03-27 12:06:59 | PTCT | sell | $64.660 | long |
2015-03-27 12:29:05 | PTCT | sell | $64.080 | 0 |
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not bad