Shared by
johnc_BOWS
Assumption and Play:
PB to 2dma on daily. Looked to hold on for swing trade. 30-minute chart looked good, as the stock was holding the 9ema. Szaman liked it too, but he told me to wait until it went up to 84.60.
Outcome:
Against Szaman's initial recommendation, I took it at 84.42 (which he reluctantly approved with a stop at 84.20) Got stopped out. GMCR fell as SPX was reversing.
Lessons and Mistakes:
Should've listened to Szaman. In retrospect, I think he told me to wait until 84.60 to confirm the stock's strength. It tapped .57 a few times, so it would've been confirmation of the flat top breakout on the 5-minute.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-09-13 15:03:33 | GMCR | buy | $84.420 | long |
| 2013-09-13 15:03:33 | GMCR | buy | $84.440 | long |
| 2013-09-13 15:05:19 | GMCR | buy | $84.420 | long |
| 2013-09-13 15:21:42 | GMCR | buy | $84.420 | long |
| 2013-09-13 15:21:44 | GMCR | buy | $84.390 | long |
| 2013-09-13 15:42:44 | GMCR | sell | $84.190 | long |
| 2013-09-13 15:42:46 | GMCR | sell | $84.195 | 0 |
Comments
Nape_BOWS
Yep that $84.60 was a key level that it needed to stay above.. Stock was just out of juice. Volume never pick back up.
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Good feedback from szaman. Great consol but no clue when or if it would go