SBOT trade 21 June 2018:

 

6/21/2018	BUY	250	2.52	8:11:29
6/21/2018	BUY	50	2.47	8:16:11
6/21/2018	BUY	50	2.42	8:22:33
6/21/2018	SELL	50	2.5	9:13:19
6/21/2018	SELL	100	2.59	9:23:06
6/21/2018	SELL	200	2.64	9:30:01
6/21/2018	BUY	200	3.07	9:57:57
6/21/2018	SELL	200	3	10:00:27
6/21/2018	BUY	200	2.92	10:06:13
6/21/2018	SELL	200	2.77	10:10:16

 

 

 

The stock is up on new study news and volume in pre-market and a low float with 1.2M shares.

 

Jumped in the stock pre-market and bought initially at 2.52.  The stock held its support at 2.30-2.35 as shown in the line in the chart below.

 

I have increased my position size after a level 2/tape confirmation of the support line. 

 

A while being patient and monitoring level 2, I have increased my position to bring down my average of the 3 buys to 2.49. 

 

When volume came with a good price action, I have sold in 3 lots (50, 100, 200) with a 37.5 gain.  Took my gain and the price surged to 3.25.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I have revisited the stock again after market open.  Greed made me enter the trade to get more of it.  However, this time I was just chasing and bought at  3.07 not taking into consideration the overextension on the price (80% on the day), and the chart’s history where is spikes and declines fast. 

 

Unfortunately, I have cut losses and the price dropped to 2.09 eod.

 

Point of the trade recap is to control my emotions and run with profits, otherwise I will lose all my gains or more!