At the time i was thinking, nice daily bounce off 20MA, nice flat top BO coming on 5 min, looks like could run a bit. I totally disregarded the massive distribution selling the previous 2 of 3 days, The intraday chart just felt like i was getting in too early. I should have passed on this trade, or at the worst case bought the P/B. Once it didn't hold the 186 level it was apparent it was a bad trade.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2013-10-07 10:13:11 | TSLA | buy | $186.480 | long |
2013-10-07 10:27:16 | TSLA | sell | $185.700 | 0 |
Pretty over extended on purchase. Also the market was wild today. Good job staying green for the day though.
day 3 of a bounce.. and at the top intradya is super tricky.. this is not a pr/earnings breakout where u just buy a flag after a huge spike.. espeically on day 3 of a bounce.. maybe day 1
Yes, these are difficult when extended on the daily as i see many B/O that seem extended and run huge, yet i think i'm missing that those have PR or news are the ones that can run, where TSLA just takes money from people who buy at the highs and reward those who buy at the lows.
I keep relearning the same lessons.
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Yea not much of a setup here. After the morning, the price never came back up over the VWAP