Shared by
ckz8780
Another failed intraday flag break. Four of these today and not a single one worked, lol. I suspect it might have something to do with the big gap up in SPY and a lot of sideways indecision for the whole day. Stocks needed serious momentum to be able to run unless it was a really good setup, which this was not.
This stock was up a lot and probably needed more time to consolidate but this wasn't really a bad trade. It did look like it could make a run toward $13 or higher so it was a decent 2:1 trade with a 10-12c stop, though my entry could have been a few cents lower and the pattern could have been stronger I guess.
1000 shares
-$110.00 (-0.87%)
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-09-10 11:08:35 | BYD | buy | $12.760 | long |
| 2013-09-10 11:38:37 | BYD | sell | $12.650 | 0 |
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