Shared by
ckz8780
Intraday flag break. Bought on confirmation of the flag break at $19.81, but it dipped, tried to break out again, and then dumped on me as some conveniently timed babble about the fiscal cliff hit the news. Lost $64.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2012-11-29 11:10:55 | APOL | buy | $19.810 | long |
| 2012-11-29 11:46:34 | APOL | sell | $19.650 | long |
| 2012-11-29 11:46:34 | APOL | sell | $19.650 | long |
| 2012-11-29 11:46:34 | APOL | sell | $19.650 | long |
| 2012-11-29 11:46:35 | APOL | sell | $19.650 | 0 |
Comments
ckz8780
Ahh yes sir you are right! I remember that now! Did you happen to catch any article that caused it? I remember looking around and couldn't find anything except an article about Obama and Romney having lunch together. Haha - if you have an article post it up cause I wanna know what caused this! Thanks!
derekrucki
The chat room that I am a part of has a squawk box that is very good and the guy just announced that some politician came out and made comments regarding not being any closer to a fiscal cliff resolution. Sorry I do not have an article. Something else that is also uncanny I have noticed is that nearly EVERY time Obama comes and talks live to the public the market tanks immediately. Maybe something to watch out for when you are managing long positions in the near term.
Accessatrader.. I mostly just take my own trades now but the moderator Dan is still awesome for advice and the chat room has a great community of different style traders
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Take a look at the SPY. I did a very similar trade to this one and the same thing happened and its because the SPY would have a random tank session in the middle of the day due to people coming out and talking about the fiscal cliff and how it will not be resolved. This caused many stocks such as this one to tank with it, thats why you got this strange move down after the break.