HIMX has a history of continuing for at least a day or two after bouncing, so I watched it for an entry after a strong run in the morning. It appeared to have a good amount of headroom on the daily chart.
I bought it on the hight tight intraday flag. Volume was still strong and the SPX looked strong, so I entered the flag with a stop at the LOD. I could've taken a bigger position and set a stop below the flag, but I play a bit more conservatively these days.
I sold 1/2 when it seemed to be pulling back. Again, my sticking point is that I tend to sell too early-- I ended up selling the rest very close to the pullback area. I could've set a stop at my buy price and let it develop. Really, with the SPX looking as good as it did, I had no real reason not to set the stop at my buy price.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2013-10-01 09:53:35 | HIMX | buy | $10.311 | long |
2013-10-01 10:47:59 | HIMX | sell | $10.510 | long |
2013-10-01 10:48:01 | HIMX | sell | $10.510 | long |
2013-10-01 10:55:58 | HIMX | sell | $10.460 | 0 |
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Nice