Shared by
mbarattino_BOWS
bought within flag, daily chart looked great, sold half into the spike up, got worried it wasn't going to hold and just sold off the rest, and it ended up tanking late afternoon, got a great gain still
+$375.00
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-06-27 12:40:00 | MEET | buy | $1.690 | long |
| 2013-06-27 13:45:00 | MEET | sell | $1.770 | long |
| 2013-06-27 14:14:00 | MEET | sell | $1.760 | 0 |
Comments
mbarattino_BOWS
yeah man I've seen the exact same thing, I'll probably get burned on buying within the flag i'd say 30% of the time, so I try to wait for a break of the flag, unless I really like the flag setup...I wouldn't of gotten in early on this one but I heard Kunal was about to get in and if I'm ever watching something and then I hear Kunal affirming that he's about to get in then I'll just buy instead of waiting since he's usually right about his stocks
JoJoTrades
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sweet gains. I can see you bought very shortly before it broke out of the flag to the upside...anything give it away that it was about to come? were you seeing strength in L2 or something? or was it just "try it...it probably wants more"
the reason I'm asking is sometimes these long basers/flags can fail to the downside instead. especially with a low-PPS stock like this where the flag is basically horizontal, it sometimes seems to me a "gamble" or sorts on which way it goes (if you bought DURING the horizontal flag, instead of waiting for the breakout).