Shared by
bruceweng
pull back to the 15$ short got in little early and didn't go through just got out.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-04-20 09:53:12 | CAMP | sell | $14.960 | short |
| 2016-04-20 10:09:13 | CAMP | buy | $14.920 | 0 |
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Daily chart: gapped down into long term support range http://screencast.com/t/IFQsvp4Y. But, that support is a little rangy, so I think bias has to be to wait for an intraday pattern for direction. You got one and entered short a bit early, as you said. Probably a better entry was when the bear flag formed an upper trend line --> http://screencast.com/t/Pl1xHHOxD3M. This still didn't work, but staying with the daily thesis you take the short, but when it doesn't work, you await for your thesis to play out. In this case, the stock sets up long http://screencast.com/t/GRrrcu8QfXQK so you flip your position.
My opinion is taht you should only flip a position intraday when it is part of your plan. Not just because the stock goes against you. Really humiliating to me to lose going short and long in the same stock.