Intraday HOD break. The stock was up on news about some Hep C drug test and it kept tapping the $73 area. When it finally broke I took 75 shares long with a liberal stop ($72.25ish). I'm not really sure why it didn't work but I do know the market was directionless today and I'm sure that had something to do with it. I managed to hold through the first dip but when it still didn't break after the 3rd or 4th time tapping $73.17 which was the major breakout spot, I cut it. Just in time, as you can see, since it dropped all the way to $72.30 in the same candle. Lost $23.24.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2012-11-12 10:48:05 | GILD | buy | $73.000 | long |
2012-11-12 11:47:41 | GILD | sell | $72.690 | 0 |
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