MGM Trade on Aug 21, 2013 10:42 from mirko_BOWS: Tradervue User Stock Trades.

The stock was flagging on the daily and had a huge run up on the market open. I have entered the trade upon flat top breakout intraday but it appeared to be a false breakout so exited the trade when the support level broke for a loss.

Execution detail:

Date/time	Symbol	Side	Price	Position
2013-08-21 10:42:46	MGM	buy	$17.350	long
2013-08-21 10:42:46	MGM	buy	$17.350	long
2013-08-21 10:42:50	MGM	buy	$17.350	long
2013-08-21 10:42:50	MGM	buy	$17.350	long
2013-08-21 10:42:50	MGM	buy	$17.350	long
2013-08-21 10:43:23	MGM	buy	$17.358	long
2013-08-21 10:43:23	MGM	buy	$17.360	long
2013-08-21 10:43:24	MGM	buy	$17.360	long
2013-08-21 10:43:29	MGM	buy	$17.350	long
2013-08-21 11:20:20	MGM	sell	$17.320	long
2013-08-21 11:20:21	MGM	sell	$17.320	long
2013-08-21 11:20:21	MGM	sell	$17.320	long
2013-08-21 11:20:21	MGM	sell	$17.320	long
2013-08-21 11:20:21	MGM	sell	$17.320	long
2013-08-21 11:20:21	MGM	sell	$17.320	long
2013-08-21 11:20:21	MGM	sell	$17.320	long
2013-08-21 11:20:38	MGM	sell	$17.310	long
2013-08-21 11:20:44	MGM	sell	$17.320	0

#chart1 { background-image:url('/shared/charts/pricechart?symbol=MGM&trade=567227&end=20130920&i=d&TimeRange=120&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart2 { background-image:url('/shared/charts/pricechart?symbol=MGM&trade=567227&end=20130821133544&i=m5&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

Comments

Nape_BOWS

2013-08-21 17:18:19

pattern haven't develop quite yet to long it there. you have to consider at the open it just ran from $17.24 to $17.44 in 5 green candles with no pullback. just something to consider when playing stocks that have a big move. sometime stock need to consolidate and pullback for a while before the next run.

mirko_BOWS

2013-08-21 17:27:12

Thanks for the explanation Nape, really appreciated!

I guess it's really hard for me to determine when it's ready for an additional move, since it pullbacked to the 9 EMA and bounced I believed it should have some juice for another run but I guess I have miss judged it

MGM Trade on Aug 21, 2013 10:42 from mirko_BOWS: Tradervue User Stock Trades.

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