Shared by
tomr_BOWS
Daily: ER/PR gap-up
Intraday: Flag b/o
Gain: -$34 (-0.5%)
Shares: 600
Stop: $11.35
Took long position when stock broke flag and volume started to come in. Stock didn't reach my target of $11.65 and pulled back and triggered my stop.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-01-09 13:16:57 | ARWR | buy | $11.450 | long |
| 2014-01-09 13:16:57 | ARWR | buy | $11.450 | long |
| 2014-01-09 13:16:57 | ARWR | buy | $11.450 | long |
| 2014-01-09 14:00:31 | ARWR | sell | $11.400 | long |
| 2014-01-09 14:00:31 | ARWR | sell | $11.400 | long |
| 2014-01-09 14:00:31 | ARWR | sell | $11.390 | long |
| 2014-01-09 14:00:31 | ARWR | sell | $11.400 | long |
| 2014-01-09 14:00:31 | ARWR | sell | $11.395 | long |
| 2014-01-09 14:00:31 | ARWR | sell | $11.380 | 0 |
Comments
tomr_BOWS
I'm having difficulty to judge when a stock is too extended. I didn't think this was the case here. It was up 6.5% from the previous day's close and about 15% over two days. I've seen stocks that are already up 30 or 40% for the day and still have good entry points. Do you have a rule-of-thumb that you use?
Nape_BOWS
Well I was looking at the previous day action on the intraday chart which you should always consider. It came from $10 and closed at $10.61 on the 8th. Then gapped up the next day at $10.87 and ran to $11.50's. So to me the easy money has already been made. The stock needs to pullback rest for the next leg up. Otherwise your just going to be scalping for pennies instead of .50c to $1 run out the stock.
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Entry was nice, but this stock was already up to much.