A long trade that didn't pay off. IPO 7/24. Stock got to 22, came down to 4.20. Got back up to 15 PM 7/25. Waited for it to come down to resistance from AH 7/24. Got in. Should've sold it all after I got my 10%, but I thought it could keep going given the range from the day before. Averaged down over the next week. Sold 2-3 days too soon as it got back up to the 7s and later the 8s and 9s. Didn't have the patience
Ugh.. I've been watching and watching and watching and finally I saw where it was going to break.. and it went crashing down.. I tried selling and it didn't even take all my shares and so I had to lower that and finally they took. this sucks. I bought and it dropped 10 cents instantly and the bid/ask spread wasn't even seperated by much.. crazy move.. I seem to have a history with stocks above $10 and not winning.. I so thought I had this one.. oh well..
I had the idea that this IPO in Premarket could bounce up to the $15 area since it was holding mid $13 area and wanted to take advantage of the 7am surge. Banked on more people seeing this stock. Counted this is a CRITICAL Loss. The more consistent chart movement was from the first breakout. Missed it and thought i could take the next one.
Bought this big percent gainer this morning on the pull back after its spike. Had IPO news yesterday. Got faked out on a dip buy, candle was showing green and it looked like it was a great entry for a bounce, but then it quickly dipped. Undisciplined and held it longer for a bounce. Got out when it dipped again. Not the best trade but a good lesson.
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