Stock gapped up and started selling off exactly like it did yesterday. My thesis was that It would get a bounce on off the 9 ema. I got it when it held the 9 ema and had a tight stop of 5 cents which was the bounce spot/ or the low of the previous candle.
What I was looking for was a quick trade for the pullback to the vwap like it did yesterday. This wasn't a huge move or super profitable trade but it felt good because I rode it out kept my stop in place instead of trailing it up. When the stock reached the vwap on the 5 minute I sold as my thesis would dictate. I wasn't expecting it to get over the vwap and it didn't so I took profits exactly where planned.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-06-04 10:02:05 | AVEO | buy | $2.610 | long |
2015-06-04 10:34:15 | AVEO | sell | $2.700 | 0 |
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