After the fact it seems obvious that I should have held this longer, however, it seemed to me at the time that the stock might just be retesting the high of the day from the previous day, and then probably would bounce and go up from there.
I think this trade was good because of the clear area around 3.65-3.70 (right at the declining 20ma as well) that the stock was retesting from the prior breakdown. The only issue was that the stock is a slow mover and low priced, so I managed it accordingly -- not wanting to give back even a few extra pennies with the hope of gaining more, because I knew every penny counts on a stock like this.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-08-04 09:33:36 | S | sell | $3.640 | short |
2015-08-04 09:38:06 | S | buy | $3.570 | short |
2015-08-04 10:23:23 | S | buy | $3.570 | short |
2015-08-04 10:23:23 | S | buy | $3.570 | short |
2015-08-04 10:23:23 | S | buy | $3.570 | 0 |
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