Standard momentum spike. This looks like a huge chase but is actually a legit setup. You buy on MASSIVE volume ONLY in a huge momentum stock and give it a nickel or a dime for a stop...if it doesn't work immediately then you just bail. I have seen these things look like chases at the beginning but turn into 50-75-100c gains by the end of the trade, so it is well worth the risk IMO. This is the only type of setup I will chase.
500 shares
-$49.90 (-4.50%)
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-02-13 10:46:47 | KOOL | buy | $2.320 | long |
2014-02-13 11:18:17 | KOOL | sell | $2.220 | 0 |
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