Great gapper, holding the lows and formed a nice flag/ORB. Got in a little early and got stopped on shakeout but kept on radar and saw volume coming in so longed 2x at apex. Risking -.05 to make +.15, +.20. Looked great out the gate and then rolled over. Although was a double loss, i'm ok with this trade as really looked great and had clear small risk for the potential of running.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-02-06 09:42:52 | GLUU | buy | $4.800 | long |
2014-02-06 09:44:27 | GLUU | sell | $4.710 | long |
2014-02-06 09:44:27 | GLUU | sell | $4.700 | long |
2014-02-06 09:44:27 | GLUU | sell | $4.700 | long |
2014-02-06 09:44:27 | GLUU | sell | $4.700 | 0 |
2014-02-06 09:58:55 | GLUU | buy | $4.770 | long |
2014-02-06 10:11:23 | GLUU | sell | $4.730 | 0 |
This is a tricky one. When GLUU gaps up so much it tends to stay stuck in a box. Consider the daily range of the stock is normally like 10-20 cents and then it gaps up like over a buck ... we couldn't really expect much more out of it. I took a similar entry to your second trade but also sold for a loss. It just wasn't strong enough.
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this one got me too.