Shared by
Markmandy54
This name has held up incredibly well after this blood bath, keeps retesting highs. Great opening drive and tight flag on low volume. Tight stop under most recent lows (-.25) as looked ready. Got stopped out on normal P/B to test 9EMA and bounced. Longed again and once broke over the flag T/L and didn't get volume, bailed for B/E.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-02-04 10:18:49 | GMCR | buy | $80.520 | long |
| 2014-02-04 10:22:09 | GMCR | sell | $80.300 | 0 |
| 2014-02-04 10:28:34 | GMCR | buy | $80.550 | long |
| 2014-02-04 10:31:11 | GMCR | sell | $80.600 | long |
| 2014-02-04 10:31:11 | GMCR | sell | $80.600 | 0 |
Comments
jmoscate_BOWS
this one resembled a bit like $ADEP from yesterday. Huge opening and flags at the top and never goes anywhere. Today, the $SPY was in a range so it was hard for runners to keep going all day. I love the daily though as It has been on my watch list for a while, just waiting for it to break with conviction.
Markmandy54
That's actually why i took it, my thought process was keeps tapping resistance at highs in a market that has gotten slaughtered, this thing is gonna go. Intraday sprinted up to resistance and formed textbook flag on low volume under that daily support. I really thought this one was gonna rock. The 30 min pennant is looking better after today so may have been a little early.
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Tough long IMO as you had overhead price resistance on the daily chart in the area that you bought at. On top of that it already ran from $78.60 to $81 with no pullback.