CSAL Trade on Apr 28, 2015 14:04 from tee: Tradervue User Stock Trades.

Day Chart: IPO - new high strategy

Buy: stock was flagging and always spiking off the 9. Spikes were sold off so I took this as a sign that supply was being soaked up. 3x tap at time of entry. I bought as close to the 9 and 20 as I could, which were at $28.84 and $28.85 at the time I entered my order. With the spreads I got in at $28.87.

Order:
price
20 (rising)
9 (flattening)
VWAP ($0.90 below)

Sell: rode out the flag formation, which always held the upper and lower trendlines exactly. This also showed I had opportunities to buy right at support, $0.10 lower than my entry. It kept holding the 20 and eventually broke out, consolidated then pushed to ATH. I saw it pause at $28.82 and considered selling, but with new IPO high strategy I let it ride out for more with EOD run possibility. It got choppy and on 1 min, the 9 went below the 20 for the first time during the run so I just sold out.

Lesson: Could have bought lower and sold higher - Could have bought closer to support. When the stock paused at $28.82 I was ready to sell but wanted to let it run or at least go sideways as my clue to sell. I got lucky cuz instead of a sideways consolidation, it flash spiked down and I could have lost a lot of opportunity. I should remember that lesson from a few days ago where if I use trailing stops, Im likely to sell about $.20 or $.40 below the recent high anyways. Selling $28.82 is the same as seeing $29 and trailing it. This late in the day, odds are that that's my most efficient spot. It was.