realy bad trade... i think i should quit tomorrow
Entry comments: Taking this mid float on new US Navy news this morning in Pre, Day 1 Gapper, on a $ cross play. It already tried but that was at 6:45A so now that retails brokers are open I think it can get to $1.10/$1.12. Stop is $.89
Exit comments: Trade
I watched CTM because it was an earnings winner. The key resistance was around $0.76, and I entered after a 5-minute candle closed above resistance at about $0.778 with 320 shares. The mistake was that I focused on the candle close but missed the bigger issue: volume was dead. The stock moved slowly into resistance, got stuck, and didn’t show strong buying pressure. I sold around $0.7601 because there was no volume, taking a small loss.
Got in this strong stock. 5 Military contracts, 3 years cash, no debt and it never run. I did not set a stop loss and kept waiting for it to run. Not a nice loss but I do live to trade another day.
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