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Entry comments: Bought 700 shares of GBR at 2.695 right before the close. This is day 2 of a crazy runup on this 1.5m float stock and its holding gains up 64% on the day. Risk is 2.58 dip support. I think there is still a chance this thing squeezes back to 3.40s. Its faded all day so it could drop more but it can spike hard with volume. If shorts start covering watch out. We've all seen what HTGM did last week. Goal to sell into a morning gap up.
Entry comments: Didn't catch the exact dip bottom at 9.35, but it held 9.35 to 9.43 range for solid 15 minutes. Took small position with intent to hold overnight, which I am with the nice push into the close and after hours. Stock is currently at 9.63. And, by the way, I bought VRAY 8 minutes BEFORE the alert from Tim Sykes, not after, so nice to know I had the same idea as the Guru, (or chronologically, he had the same idea as me :-)).
Took small position when stock rose above 9.50 again. It couldn't hold it. I sold my position when it dropped quickly below 9.42 support. Much like the earlier CPRX play, 9.35 was the bottom. This time, though, I was smart enough to re-enter, which I'll detail on the next trade entry.
Stock was holding at hod and 52 wk highs, so I bought at 9.10. It stayed about +/- 5 cents of that range until 2:47, then jumped 65 cents in 3 minutes! I sold 1/2 of my shares at 9.70. I wanted to give the other 100 shares more time for potential continued spiking, but when it dropped below 9.50, I sold the other 100 shares to preserve profits. Happy with this trade!
Entry comments: Shorted Boeing ... TA says $BA way overbought on Trump defense spending hype.
Exit comments: Nice profit on a pure technical trade. With broad markets recovering off Trump AHCA failure, its time to pocket the $$. If you know your TA, collecting cash becomes this easy.
Three good lessons on this trade and the first two are connected. If I'm going to take a larger position size (800 shares larger for me), then my risk level will be lower (fewer cents I'll let the stock drop if it goes the wrong way). If my share size would have been smaller, I could have had a larger spread to my risk level. I had my stop at 1.86, but when the stock hit 1.87 with a wick down to 1.86, I exited per my plan. It never went lower. Lsn #3: Reached hod of 2.065. Idea was right.
Stock had strong chart all morning and was continuing to break to new 52 wk highs. Unfortunately, I bought right at the very top. Although no indications on the chart showed signs of weakening, the stock topped at 15.55 and that was the hod. It never got back to that point. I sold at my planned stop limit just below resistance.
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