Earnings play that went straight up at the open. Ticker had a demonstrated history of multiday runs on positive earnings news. Played a double bounce off th 20EMA expecting continuation. Exited immediately when price action broke through the 20 EMA. The only real viable play to to enter during premaket after the intial gap up follwing news release at 7:26 am.
Very familiar with this ticker as Kellog has made a killing on it years ago so Flux Room Idea Friday took a very small play though as I didn't really trust it and it is failing nicely
Gapper.
XGPT & Flux double alert. Got in with XGPT at $5.40 and took the target price of Flux for $6.10 and a small profit.
Entry comments: Opened this short position as the price was falling in the morning. I couldn't watch it during the day, so, I am holding to further fall tomorrow.
Exit comments: I held this trade far too long. Paid more in borrow fees than I made in profits. Took the opportunity to close before it rallies again.
Entry comments: Added to my position as the price was falling from the highs of the day in the morning. It stuttered back and forth all day but didn't really break out so, I am holding to watch for a breakdown tomorrow.
Exit comments: The price was showing repeated support around 7.05, so, I closed when it dropped again. Too bad. That is when it decided to keep dropping. I would have hit my target if I had stayed in longer.
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