Down on the day and scared, I took the 5 cents on this since I was unsure of the play.
Squeeze play: I waited for it to break the base and go over the 20sma. It tapped and went above the 20ema, but did not close above it. This is expected...however, the volume of the rejection scared me out.
On squeeze plays, it seems the best bet is to wait for it to break the 20sma/ema and then see how it reacts. If it holds the pullback/break through it, then you can take it as a long above that break and hold.
Saved: 11 cents = $44
Missed: 35 cents = $140
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2012-10-31 13:11:20 | TLM | buy | $10.790 | long |
2012-10-31 13:15:37 | TLM | sell | $10.830 | 0 |
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