November 13 at 14:32 – oh well, good thing we moved the stop up! Just got hit and we’re out of the position… between the two trades, we’re down $25. Not going to chase this one any more today, as we have to leave the computer this afternoon. There are two arrows on the chart below — the stochastic is beginning to roll over, and the macd has not yet turned up, so we’ve been rather optimistic even trying to trade this one so early.
November 13 at 14:18 – we had moved our stop up to 2.54 and it was hit … this prevents increasing losses as the price drops during the pullback. We lost $50 on the first try. Because we had already placed a second buy order at 2.38, it was filled on the sudden spike down! was that spike designed to hit all the ‘stop loss’ orders? who cares… it got us back in at a nice entry, and as i type this we’ve made back the initial $50 loss … in fact, we’ve moved our new stop up to 2.42, where we will not take a loss on this position.
November 13 at 11:45 – we like this pinball pattern and have taken a position of 500 shares at 2.61 with stop at 2.51 … however, because the 5 min. chart looks like a pullback is coming soon, we’ve also placed an “add on” order for another 500 shares at 2.38 with stop at 2.28 — this way, we are IN now, but if we get a chance to snag a ‘bargain’ we’re ready to take it.