Although the weekly breakout looked good, it was not to be. Boot looked good in the a.m. rally up to 25.95, but then reversed. I took a stop at 24.75 as the breakout point fails.
This was a good loss. I gave the breakout a chance and when it failed, I knew exactly where my exit would be.
Exit: 24.75 -2.8% (- .4% portfolio)
This one got gapped against me, but fortunately my position size was pretty small. To the point where I could wait for the bounce. I did have a stop at 1.39, low on the move 1.40. as it bounced to day, I sold it out as I no longer have any interest in the setup. --its a complete mess on the daily, but apparent that something is going on as some volume has come in.
On a weekly, and my reason for taking the trade was the RSI and MACD settings were hitting multi year highs. This could setup as a rest week, and next week would be the first time a breakout trade could be attempted
Exit: 1.56 Looks bad in % for the trade but due to the trade size only a -.45% portfolio loss.
This is one that I caught a big move last week. IMO, REPH has now setup again and could make a similar move. There were 3 days in a row where it rejected move to break it down. Today, it gapped down but closed up from the gap. After it was apparent that it would not immediately breakdown, I took a position at $8.51
Mental Stop @8.10 This one is too thin to put a hard stop. (I know from the last run where mine got taken out at a LOD)
Bigger picture, ATH weekly RSI and MACD.