This one was not a big play. Just did a quick scalp off a pullback. $AEZS was riding above its 9EMA all morning. Once I saw it setting up I took my chances for another rip over HOD. Once it pulled back I got out. Did not have intentions on holding.
P&L: $500
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2016-03-03 10:47:04 | AEZS | buy | $4.250 | long |
2016-03-03 10:59:47 | AEZS | sell | $4.350 | 0 |
Haha! Yea i was taking it as a small pullback play from the beginning. I had no intentions of riding this one out unless it pushed right off the bat. It had been riding on the 9 the whole morning and it was testing the $9.30 multiple times. Once I saw it was holding I went in with some size, 5k shares to capitalize on a small move. Only thing I would have done differently is getting in closer to support.
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I see the potential base BO on the daily and the pullback intraday. But, I think this is a dangerous play that you could have lost as much as you made. Speaking of which, you made 500 bucks on a .10 cent move? Moneybags!!! :)