Morning flag break. I noticed that the bounce off $9.10 got bought pretty strongly and I had seen the stock spike hard to $9.60 the day before so I knew a run was in the works. My initial entry was off the $9.30 break when the little flag after the first morning push broke out. I thought the $9.40 resistance was too heavy for it so I sold the last half of that position early and then re-entered when the volume came in for the second trade. On the second trade I sold half into the first spike and then added back after it confirmed direction. I then sold half into the second spike and left a $10 target on the second half until it started to roll over. This was a nice trade but I think it probably could have been a little more calmly managed. Stops were under $9.20 on the first trade and under $9.30 on the second, then adjusted higher once I added.
1000 shares each
+$287.81 (4.30%)
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2013-09-27 10:16:22 | RMTI | buy | $9.300 | long |
2013-09-27 10:16:23 | RMTI | buy | $9.300 | long |
2013-09-27 10:39:35 | RMTI | sell | $9.391 | long |
2013-09-27 10:43:39 | RMTI | sell | $9.330 | long |
2013-09-27 10:43:39 | RMTI | sell | $9.330 | long |
2013-09-27 10:43:39 | RMTI | sell | $9.330 | 0 |
2013-09-27 11:04:59 | RMTI | buy | $9.449 | long |
2013-09-27 11:08:08 | RMTI | sell | $9.551 | long |
2013-09-27 11:24:38 | RMTI | buy | $9.599 | long |
2013-09-27 11:27:36 | RMTI | sell | $9.701 | long |
2013-09-27 11:58:01 | RMTI | sell | $9.701 | 0 |
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Great 1st entry.