This was an ugly entry. It's mighty funny how things look so clear from this vantage point...
Trading these stocks are like trying to catch a fish bare-handed with vaseline on your palms!
Please don't ask why vaseline is on my palms...
Got into this one after what I though was a pull back B/O. Held on to my position and got what I could.
Arghh! I was watching CUDA because of the kind of moves this thing makes. I got in after I saw it basing and consolidating, with heavy buyers mind you. But as soon as I saw it turn against me I jumped ship. Actually, I set me stop underneath the level it was basing. Good thing too.
The daily chart did not show any indications that this play would work. However, as I was watching the volume I saw more buyers coming in and saw it break above the 9EMA on the 5 min so took a shot at a break out at the end of the day.
This was more of a curiosity play. Due to the highly volatile nature of this stock I entered very light just in case. I didn't know which way it would go due to its formation, but I just wanted to see.
P&L -$23; Commission $2.00; Satisfying my curiosity and gaining more experience... you guessed it...PRICELESS!
Execution detail:
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