Daily P/B to 40 and flagging. Intraday Run on volume and flagging at highs. Long on anticipation B/O (as last several times i've waited for confirm i got hit on P/B) with a stop under flag lows. Rolled and stopped me out. I saw the setup, i took it, good stop.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2013-07-29 10:48:41 | SCTY | buy | $42.350 | long |
2013-07-29 11:12:44 | SCTY | sell | $42.030 | 0 |
the whole sector was dipping...solar stocks doent run linear they pop then fade then repop so if u take a scalp setup they can fade Look at flsr same time..it was fading too they all were at once..
This setup looked prime to me. Daily had nice orderly pullback to support and was breaking out of the upper trendline of the flag. Intraday run and flagging at highs. I thought everything was lined up. If i understand you correctly, even with the setup, since it's a solar to be aware of the "solar fade" that they tend to do?
Yeah, this was a hard one! But if you look at the flag between ~1 and 2pm that same day, the flag was much prettier, it just "looked good", and it did set up in the end. So maybe compare those two set ups that day to get a feel for what a strong set up looks like? Anyway, just my two cents.
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The set up was there, It was just out of juice. Solar stocks are tricky when they want to be.