Monday, November 17, 2014

Opened FUEL

I have gains that exceed 60% this year.  That has set me up to do something that I normally would not do.  Take a big trade with size.

I had targeted FUEL as it announced great revenue growth and surged on high volume. Although it put up a wick, I've seen that before and stocks go on to spectacular gains after the day 1 move.  Day 2 pulled back nice.  So I had a fishhook type of analysis for it.  I planned on a buy stop at 19.05 I wind up getting a fill at 19.24 (never again will I use that type of order).  That hurt because I bought big. It then preceded to fade.

Despite the pull back today there is nice support at the top of the bottom pattern.  I would have liked Fuel to kick off that formation.  That didn't happen yet, but it also didn't fall past it.  So this remains a work in progress.  This will wind up either being my biggest loss or my biggest gain of the year.

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