YY Trade on Sep 6, 2013 12:04 from johnc_BOWS: Tradervue User Stock Trades.

Assumption and Play:
Call out from chatroom. Continuation of bounce on the daily. Also, the gapper cleared the flat top, so I thought it might keep going. Looked for intraday entry. Took the flat top breakout.

Outcome:
Didn't go. Stopped out just before it plummeted +$1.00 in two candles.

Lessons and Mistakes:
It dipped quite a bit in the morning and needed to climb up a long way. so it was already pretty extended by the time I got to it.

Also, this is another lunchtime play. Kunal has taught us that lunchtime breakouts don't usually workout so I should've avoided this one.

Execution detail:

Date/time	Symbol	Side	Price	Position
2013-09-06 12:04:53	YY	buy	$43.930	long
2013-09-06 12:09:29	YY	sell	$43.998	long
2013-09-06 12:10:19	YY	sell	$43.950	long
2013-09-06 12:10:19	YY	sell	$43.900	long
2013-09-06 12:10:19	YY	sell	$43.890	0
2013-09-06 12:13:08	YY	buy	$43.810	long
2013-09-06 12:13:28	YY	buy	$43.810	long
2013-09-06 12:13:28	YY	buy	$43.810	long
2013-09-06 12:41:24	YY	sell	$43.680	long
2013-09-06 12:41:34	YY	sell	$43.590	0

#chart1 { background-image:url('/shared/charts/pricechart?symbol=YY&trade=589707&end=20131006&i=d&TimeRange=120&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart2 { background-image:url('/shared/charts/pricechart?symbol=YY&trade=589707&end=20130906160000&i=m5&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart3 { background-image:url('/shared/charts/pricechart?symbol=YY&trade=589707&end=20130906160000&i=m15&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart4 { background-image:url('/shared/charts/pricechart?symbol=YY&trade=589707&end=20140203&i=w&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

Comments

markmandy54_BOWS

2013-09-10 08:30:21

Looking a little extended after that comeback and was going right into intraday high resistance (where we usually sell some)

johnc_BOWS

2013-09-10 22:23:58

I entered based on the callout form Z Man and Kunal. How would you have played it?

markmandy54_BOWS

2013-09-10 23:11:30

I'm not the guy to ask as i've been sucking it lately. Also if both those guys played it then i got nothin!

From what i've learned from Bootcamp, I would have passed on this as the the consolidation B/O was around 43.80ish (and seemed a little extended after that hero run back to flat on the day), and since the target would have been 44-44.25 and risk around 43.50 for stop, didn't seem like a great setup...but i'm still learning a ton and continue to stay open to all lessons.

YY Trade on Sep 6, 2013 12:04 from johnc_BOWS: Tradervue User Stock Trades.

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