Daily Setup:I thought this would be either a rubberband snapback or it would continue higher. The strength off the first 5 minute candle put this on my watchlist for a continuation play, figured it must be a short squeeze since it was a bit overextended on the daily, shorts were probably piling in and the MM's were squeezing them so I knew if might have juice.
Hindsight is 20/20:Really no red flags on this being a continuation play
Intraday Setup:Bullflag, MA sandwhich (almost), Daylong consolidation- I entered it after it a quick spike down and recovery (aka a shake and bake) and it remounted the 9am
Hindsight is 20/20: It's 11am and the 9ma becomes less reliable. The correct stop placement would have been the 20 ma. The stock took off right after I w stopped out. Cost me $300
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-06-05 11:19:23 | SINA | buy | $55.140 | long |
2015-06-05 11:19:23 | SINA | buy | $55.140 | long |
2015-06-05 11:33:36 | SINA | sell | $55.040 | long |
2015-06-05 11:33:36 | SINA | sell | $55.040 | 0 |
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