Shared by
johnc_BOWS
Number of tickets: 4
This was a case of me seeing something that wasn't there. I played this as a bounce play, but it wasn't ready and it had no catalyst to drive the bounce, especially considering how choppy the market has been lately.
ALNG's intraday chart looked really messy, but for some reason I still played it as a quick pullback. It didn't run up enough and was WAY too choppy to play this as a quick pullback. Since I continued on this FLAWED premise, I added again. The only think I did right in this trade was setting the stops.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-10-28 10:07:51 | ALGN | buy | $56.330 | long |
| 2013-10-28 10:07:51 | ALGN | buy | $56.330 | long |
| 2013-10-28 10:07:51 | ALGN | buy | $56.330 | long |
| 2013-10-28 10:07:51 | ALGN | buy | $56.330 | long |
| 2013-10-28 10:23:39 | ALGN | sell | $56.280 | 0 |
| 2013-10-28 10:49:25 | ALGN | buy | $56.380 | long |
| 2013-10-28 10:49:25 | ALGN | buy | $56.380 | long |
| 2013-10-28 10:49:25 | ALGN | buy | $56.380 | long |
| 2013-10-28 11:43:16 | ALGN | sell | $56.300 | long |
| 2013-10-28 11:45:05 | ALGN | sell | $56.270 | long |
| 2013-10-28 11:45:41 | ALGN | sell | $56.300 | long |
| 2013-10-28 11:45:44 | ALGN | sell | $56.320 | 0 |
Comments
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That intraday is messy.