This is going to be my overnight play and also my 2nd attempt for shorting. This one got filled all the way so there's that... not nessecarily a good thing this time as this ticker decided to pop a lil a minute before the close and about 15-20 sec. after I bought it. It's catalyst going into tomorrow is a conference with Wells Fargo at 1030 am. It doesn't seem like something with strong legs to carry it much more than the 21% it already moved today. I'm making this play based off the "buy the hype sell the news" idea with it also when I bought it was coming down off of an intraday double top and the level 2 wall of sellers that appeared to be strong.
My concern as I said before is the nice little spike up in the last minute which is odd because it's been my experience that the last minute typically has a sell off if the stock is going to fall, but it is sitting right at the top that I bought off of and there is the other top just ten cents away so this could possibly be a triple top before toppling down the hill. I have my mental stop losses set and I put myself in a position to let it play out a little bit and i know where the key support is that I'll wait and see if it breaks through. If not then I'll back out and take what I can n vice versa for the resistance.
How'd it go for you? TCON went a bit higher after open than I would have held, but it looks like your instincts were right, because it's after 10:30 and it's dropping. Curious to know how it went for you.
@Lyoness It faked out on me... 4$ was my max so I put it in @ 4.05 and it snatched my shares up and ran down the the road with them.
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