Shared by
Louie
General Comment/s:
-Stock made lower highs then cracked the 9 EMA
-stock is up 30% for the day though
-when stock proved to be strong and not break down, Instead of honoring my loss, I just held it. Then at the lull I checked online why the stock is up: Acquired by GOOGLE! oh shit! legitimate positive catalyst. Plan for the next day is to quickly cover my SS position when it dips
Plan: (SS)
Setup: LH + Crack 9EMA
SL: 11.5
PT: 11
Final thoughts:
-I stayed all day for this! I went to work with minimal sleep just to handle this trade (5 hours sleep only)
-Decided to hold this overnight and hopefully this will crack tomorrow at the open. Will cover it quickly and start my day "
fresh" if it takes out the big seller at 11.9 then I will exit (11.9-12)
-I need to stop chasing stocks too! This entry is horrible! Ive chased my entry. Because of my stubbornness, I have missed better trades and easier set ups.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-06-30 09:39:16 | CRCM | sell | $11.350 | short |
| 2016-07-01 10:54:59 | CRCM | buy | $11.160 | 0 |
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