It flushed in the morning and has been grinding back up, but it keeps bouncing above and below the 20ema. At the end of the day it tapped the VWAP and started to drop so I bought. It broke the 20, but held the 9, Stopped out.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-01-15 15:39:34 | NBIX | sell | $19.130 | short |
2014-01-15 15:51:14 | NBIX | buy | $19.200 | short |
2014-01-15 15:51:21 | NBIX | buy | $19.190 | 0 |
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If it's breaking above and below a moving average consistently, it seems to me that, for at least the day, it's not a relevant indicator to support a position.