Shared by
MAllum_BOWS
Checkout out GDX because NUGT was in play & it again was moving in sympathy like yesterday. This was day 2 of a rubber band short. Thought I was catching another bear flag like happened earlier in the day but it was actually a small flag in the run up to develop into a proper bear flag before flushing again. Got out too late because I didn't have a stop loss, hard or mental. Note for tomorrow.
I guess when I miss the early morning moves, I default to these intra-day base breakouts/breakdowns, but I haven't studied this pattern at all, so I need to stop. If i miss my setup of choice, I will just have to practise it OnDemand. I need to learn to scan properly to actually find my setup of choice because 2 days so far the Pre-market movers on thestockmarketwatch.com have not been gappers that I caught.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-05-03 10:44:30 | GDX | sell | $24.610 | short |
| 2016-05-03 10:50:15 | GDX | buy | $24.700 | 0 |
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