I continued watching for some type of pullback to the 20 EMA for an entry. I went long 100 shares at 101.37 with a stop at 100.07. I added another 50 shares at 102.00 and moved my stop up to 101.40. I was thinking it was about to make new highs here. It started to pullback below the 9 EMA and I exited my position at 101.54. I was to early. I re-entered 50 shares at 101.92 and 50 at 102.00 after it had pulled back below the 20 EMA once more and broke above both the 9 and 20 EMA. Although this stock was on its own agenda the SPY was hitting the stratosphere at this point which probably didn't hurt the situation. I scaled out half my position at 103.40 just below the highs. I sold off another 25 at 105.33 and the remaining 25 at 106.33 when I felt it was getting over-extended. This stock doesn't know the meaning of over-extended. It ran another $3 from my exit, making highs at 109.85. The stock was giving me no reason to sell, it was only flagging where I exited so in hindsight I should have held onto the lotto shares a bit longer.
Execution detail:
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!