Shared by
J2WS
Here is my trade idea in
Had plans to add through $7.00 for a couple of days now but didn't get a chance to since I was sleeping... Very nice Bull Flag. Almost textbook. Nice declining volume during the flag then really nice volume spike upon the break. Should continue to have higher prices.
Ouch. I'm not sure what news came out, but it doesn't matter. It gave some clues yesterday with above average volume with immediate price rejection. I thought there was some wedge support but it dropped down incredibly fast and triggered my stop.
Nothing I can really do about this one except develop some rules on profit taking and learn how to take action when clues like that happen in the future.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-05-30 12:03:05 | MNKD | buy | $6.640 | long |
| 2013-06-07 11:46:32 | MNKD | buy | $7.549 | long |
| 2013-06-11 10:24:26 | MNKD | buy | $7.830 | long |
| 2013-06-18 09:58:06 | MNKD | sell | $6.000 | long |
| 2013-06-18 09:58:29 | MNKD | sell | $6.331 | long |
| 2013-06-18 09:58:29 | MNKD | sell | $6.331 | long |
| 2013-06-18 09:58:29 | MNKD | sell | $6.331 | 0 |
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