Shared by
ckz8780
Anticipated the $52 break out of this clean intraday flag. I needed to anticipate this one because it was very thin and I knew the spread would get wild once it broke above $52. That's exactly what happened. As soon as the bid hit $52.01 the ask went to $52.25 so I would not have been able to get in above $52. Anyway, I was hoping it would make a push toward the $53 area but it failed under $52.50 so I just cut it for a small gain. I would have even taken a 50c gain on it and been happy but the spread was so big the bids just never got there. Sized accordingly for the spread and risk of liquidity issues.
100 shares
+$12.02 (0.23%)
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-06-06 12:51:58 | CYBX | buy | $51.970 | long |
| 2013-06-06 13:32:08 | CYBX | sell | $52.090 | 0 |
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I hate it when the Bid fails to tick up with the Ask on these thin tickers....so annoyoing