The daily chart wasn't strong enough to support the kind of play I was going for. With a spike that big, this would've needed to rest for the rest of the day. It didn't act like a sustainable news play and volume wasn't strong enough to indicate that this was special.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2013-12-13 12:24:56 | WUBA | buy | $32.080 | long |
2013-12-13 12:42:24 | WUBA | sell | $31.840 | 0 |
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Intraday was chase as you're buying right where the EMA support bounce buyers are selling.