I opened up TKMR at 21.40 as it bounced it met the 26 MA and bounced. I figured this would present a decent entry in a stock that that has been moving significantly on the Ebola outbreak news. I was listening to NPR on the way into work. They were talking about live trials beginning in November. TKMR was also successfully used in Nebraska.
This entry allowed a tight stop a close below the 26 MA and I'm out.
Aftermath: I do not typically update my trading journal until the evening. There was a very significant event for TKMR. The first case of Ebola was diagnosed in the US. This news broke in the after-hours. (although on the drudge report during the trading day there was a headline suspected Ebola Case in Texas) . This news had nothing to do with my entry. But every thing to do with the profit I enjoyed.
A very large move resulted. I sold at 25.02. which in all honesty I played horribly for several reasons. First, the Premarket pop took it over 28. Premarket can often be the best time to exit a position. But this type of news had staying power so I held. The problem was I was traveling and unable to get a sense of the broader market. As TKMR came in I just sold rather than risk all my profits evaporate.
Profit $3.62 2R.
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