Tuesday, September 30, 2014

TKMR trade summary

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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