Shared by
Markmandy54
Daily looked hot, strong rip out of gate and low volume controlled selling P/B to rising 9EMA, put bid and wouldn't fill as started to bounce so chased a little with smaller size, put stop under rising 20MA. My chart showed low of 72.18 on the P/B that stopped me, yet i got stopped at 72.15. Pure market maker blowing out stop. What are ya gonna do. Stop was -.60, Target +1.50 and +2. Both targets hit. This one hurt as didn't notice i was stopped until 2 minutes later and was RIPPING. At times like this i hate hard stops, but the times i don't have them in i pay dearly so i'll take the few times this happens.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-02-18 10:02:21 | DWRE | buy | $72.700 | long |
| 2014-02-18 10:10:55 | DWRE | sell | $72.150 | 0 |
Comments
Markmandy54
I waited for the confirm of the 9EMA bounce too, ha. that 5 min chart is pretty, 1 bar rip and several low volume P/B. Due to the thinness of this stock, it appeared to be the MM running stops before moving it up.
Gena_BOWS
I agree - I do believe the MM's can run stops on those thin stocks, because it happens all the time for me!
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That was really a pretty entry, just didn't know it wasn't done with it's flag yet! Looked like it was. Don't you hate it when you put your stop just under the ma's like we're supposed to, not too tight, not too too loose. and it spikes and hits the stop, bounces off of it?! Hate that!