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Entry comments: Swing. News. Stock has uptrend before on news for days. Waited for B/O above VWAP & open. Plan to swing, but cautious due to overall market and volume not hitting 1 million. Almost each day after 1st news release, more news keeps pushing stock up. RISK: Initial is previous intraday SPT @ 17.24, then move up to next. Don’t want to use VWAP cause past few weeks has shown not to be as reliable as before due to markets. TGT: 20.
Exit comments: Risk breached.
I thought this was going to be an afternoon sell-off plus, buyer insufficiency pattern. However, it spiked in the afternoon and kept going... This ticker was the first solid runner in a while and that fact itself fueled traders to jump in. Also, we see a lot of short squeezes on Fridays. I could have cut loss quicker than we I got out. The very first trade in a month was red... that hurts. :(
Dip bought this again after its had a squeeze past HOD and sustained volume. two entires on two support lines. Again, did not respect my plan or targets or really accept the risk. Emotional exit, would have hit my conservative targets. This will be the main focus going into next week. Respect plan, being patient for targets and accepting risk.
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