This one was a real head fake. After a long pullback consolidation I got a huge volume spike and had a perfect entry at $1.18 but the damn thing just couldn't push through that $1.21 area. It even continued to see volume up to that area, putting through almost 400k shares, then it flopped on like 40k like a POS! This was tricky because buying at $1.22 on confirmation would have been way too high, but $1.21 was a significant resistance point if you bought at $1.18. Probably a good indication that it might have been good to just stay away from this one, but damn that volume was so nice I really thought it was gonna go! I also could have not let this fall back so much and possibly cut it flat or for a 1-2c loss when it did not hold the initial push. Percentage-wise, this was an ugly loss.
1000 shares
-$69.90 (-6.3%)
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2013-06-06 13:29:50 | NLST | buy | $1.180 | long |
2013-06-06 14:01:46 | NLST | sell | $1.110 | 0 |
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