Shared by
jmos_BOWS
PLAY: Bull Flag
Stock gapped up on some PR, was short bias but the nice volume pattern was prime for a long. The market was bouncing and it had pb to the 50sma on the daily on low volume. When it held the VWAP all morning and the 9ema, I turned my bias to a long as long as it made higher lows. Each time it would flush past VWAP, it would remount with strength so when it made higher lows, I got in for the break out. Didn't take much size at all because I am not confident long in this market. Respected my reasons to sell and took the gains as I didn't think it would hold up when it stuffed at 5.5. Unfortunately, it squeezed some more.
Reasons to sell:HOD, extended, parabolic, stuff
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-09-30 10:19:55 | BLPH | buy | $5.070 | long |
| 2015-09-30 10:22:47 | BLPH | sell | $5.180 | long |
| 2015-09-30 10:23:55 | BLPH | sell | $5.250 | long |
| 2015-09-30 10:29:34 | BLPH | sell | $5.400 | long |
| 2015-09-30 10:32:00 | BLPH | sell | $5.500 | long |
| 2015-09-30 10:33:03 | BLPH | sell | $5.390 | 0 |
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