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This will sober us up.
A quick high powered run up from 45.52. $50 stock trading over 1 million shares. Almost total volume dry up in the 6 week flat base. Beats and raises guidance. AT margin holds above 40%. ROE over 20%. Revenue up 52%. Huge volume on breakout. It looked pretty good testing the lows in the 5% window this morning. I got drawn in just outside the 5% window at 58.75. Make some breakfast and drive to work and boom it's bouncing off of 51. Down 13%.
I am pretty sure Bill says that if I was wrong, I must have made a mistake. I guess the mistake was buying outside the 5% window, undearneath the heaviest set of trade at 59.
Sometimes earnings beat and raise can be a winner outside the 5% window. Such as PCLN on Feb 28. Not this time.
ouch- after the open I was wondering why that wasnt showing on the stocks on the move list. now I know, i was looking at the wrong list.
When a CAN SLIM 99 composite rating breakout gets punished this hard.... something wicked this way comes.
today's shaping up to be kinda ugly that's for sure.
Abe...same thing happened to me though I bought in the 5% window @ 57.30 and got whacked with a 10% loss. The trade went against us like an overhead supply issue bit I did not see that. Trade plan was to look for a high volume breakout above the 57.24 resistance line and buy within the 5% buy window. Executed the plan, trade crapped on me, executed the mental stop loss but sell off fast. Gotta luv earnings day trades....Anyone else see the problem with this trade setup for a FB breakout ?
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