This was was exhausted. It was up 27% for the day by the time I entered the stock. 15%+ moves in one day are generally unsustainable for stocks that are more expensive than $10, unless the volume that day is ridiculous, unprecedented, and is sustained throughout the day.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-04-09 13:11:36 | CTCT | buy | $28.180 | long |
2014-04-09 13:14:45 | CTCT | sell | $27.950 | 0 |
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Good stop on that fakeout