With the exception of a point and some change loss on a portion of my [[UYG]], the rest of my all-in bounce trade was profit, save for a few pennies slippage on my break-even stops. All things considered, I’m pleased.
While I’m posting about my actual trades, I wanted to update on [[MBRK]].
I bought 1/4 of a position @ $3.55 on the day of the green arrow. I sold half of that @ $4.15 on the day of the red arrow. My goal is to hold onto winners as long as possible. Accordingly, I should not have sold even half, but I did, due to the general market weakness.
My rules have me start with a small position, and then add to that position on the first pullback, as long as my breakeven stop does not get hit.Â It seems the pullback has occurred, and my stop was narrowly avoided. According to my plan, I will now add to this position. As the stock is consolidating above a previous spike and riding up the 20 day average, I like this spot to add shares. Tomorrow I will buy enough to bring my total position up to half of my finalÂ projected position size.
As for the Chaikin Money Flow, it is not an indicator I typically use, but it looks so damn bullish, I included it for the hell of it.