After the stock had made highs at 8.70 I was stalking for another short opportunity. I shorted 1500 shares at 8.45 as soon as the flag couldn't hold and crossed the 9 EMA. I placed a hard stop at 8.55. If it was to bounce off the VWAP or 20 EMA I would look to re-short on lower highs but luckily it broke below both. I covered 500 shares at 7.94 after it had broke below $8.00 and covered another 500 at 7.93 because I didn't want to give back to much gains and wanted a safer 500 lotto share position (although still pretty big). I covered 250 shares at 7.83 once it had broke below its LOD and previous bear flags. The last 250 shares I covered at 7.91. After the stock had spiked into the 20 EMA I was thinking the run was over and wanted to secure my remaining profits but I could have allowed it play out a bit longer and cover before the close around 7.80.
Execution detail:
Thanks Kyle! Me as well man, sometimes I stay disciplined and follow my reasons to sell list and sometimes I don't, but it's all part of the process :)
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!
Very nice! I like this trade, great job riding this one down. I am working on letting my winners ride and taking profits as soon as there are some.