This is a stock that I know and have done well with on the past. GTAT has had a very nice run but is now in a consolidation phase.
I bought yesterday @ 16.54 and sold pre-market at 16.91. I realized that I didn't really have a plan for the trade as I was perhaps caught up in the impulse of seeing the market going up and wanted to grab part of it. GTAT had been a momentum play but as the chart shows is going sideways and the MACD is negative. Since I've noticed that GTAT gaps up, often to its daily highs, I decided to get out of the trade. In total, I made a profit of $148.
In some aspects this was a bad trade as was reactionary and I didn't really have a profit target as it was not planned. I did have a stop under yesterday's lows. But I also think it shows I've gotten better as a trader by recognizing my mistake and getting out, with a small profit no less. Years ago I would have probably let it ride to see what would happen.