Monday, October 6, 2014

Closed KNDI + 8% 1 day

KNDI has been an extended downtrend.  But then broke out of that down trend on heavy volume.  The next day It pulled back and then started to go back up.  I used a type of  fishhook entry here w/ a stop at LOD.   I was disappointed with the close on Day 1.  As it closed close to my stop.

Things got interesting on Day 2.  For most of the day it sat around going nothing nearly stopping me out but I survived and the volume came in hard.  I sold into strength and took a .8 gain on the trade.

Entry: 13.63
Exit 1 14.74
Exit 2  14.49
Total    .8R


I'm very pleased with this one. I felt I had about a 60-70% chance of getting stopped out.  It just goes to show that sometimes the trade you expect the least from can do very well.  The exit was not smooth as it started fading quickly.  I tried to unload the entire position at 14.74 but got a partial fill.  Rather than wait for a rebound I chased it down with my sell order.

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