Shared by
tomr_BOWS
Daily: ER/PR Gap-up
Intraday: Flag breakdown
Entry: $33.70
Stop: $34
1st Target: $33.40 (LOD)
Gain: $-32 (-0.6%)
Was watching stock for weakness to take short position in the afternoon. Stock was consolidating pretty much all day when I thought it was flagging and I took the trade. Stock didn't move move much and I sold position before it hit my stop.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-11-07 14:39:16 | AWAY | sell | $33.700 | short |
| 2013-11-07 14:39:22 | AWAY | sell | $33.700 | short |
| 2013-11-07 15:42:26 | AWAY | buy | $33.910 | short |
| 2013-11-07 15:42:26 | AWAY | buy | $33.910 | 0 |
Comments
iStryker_BOWS
I think the play was @ 1:30-1:55pm. Look @ the 5 minute chart. You see @ 1:15 the stock tried to test resistance, but did it on pretty low volume that would be my signal to look for a short, then 1:20-1:40 it couldn't rebreak 34, thats where i would enter.
Agree with mark, this is a flat liner play. I tried not to play these stocks as I spend too much time watching them when I could be watching other better stocks
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Kind of a flat liner.