Stock Selection Information
The stock had no relevant news today. It was a second day play as it had an important move 3 days ago.
Watch List Reason - 2nd day play
Pre-Market Volume - N/A
Trading Plan - Go long above 36.50
Management
Entry Setup used: Open Drive Flag, Pull back and Consolidation play
Trading Comments
Tape reading helped to enter at a very good price in the pull back and I also could feel the buying preassure in it. People were willing to pay the offer to come in.
Evaluation
The second trade was very well executed, but I had a little trouble building into the position. The fact that I could not get any prints at 37.35 suggested the stock was strong. This is the first time I try building into a position and I like this idea.
You find a level and put the order with a very short stop. If trade start to work, you add another lot on the way up. This way, you have a strong position on the stock if goes in your favor. If not you only losse a few pennies on it.
You find a level and put the order with a very short stop. If trade start to work, you add another lot on the way up. This way, you have a strong position on the stock if goes in your favor. If not you only losse a few pennies on it.
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