After hitting 1x, FORM has dropped back to break even and has been stopped on a small move below $11.50. You can read original alerts HERE. This was round 2 with FORM and should it set up again, I’ll re-enter.
158 – FORM – $11.42
Since SQ blew out expectations the stock gaped after market. I normally don’t play in extended market hours tradings but it has been my experience that it is much better to be a seller than a buyer in these times. Before leaving the office I set a limit to sell 1/2 of all shares at $16.50, the adjusted 1x after yesterday’s add. This morning, the stock hit my 1x and sold 1/2 of my shares. Stop will be moved to break even on all shares.
I bought NBL on February 1st looking for follow through after some decent consolidation. The bottoming pattern was attractive and the MAs were in line. See alert HERE. The trade did not work and I have gotten stopped out with no slippage.
Sold – 225 – $36.76
Loss – $605.25
SQ has been a good one having already hit 1x in early December. (Trade progression here) Today the stock is running and looks to want to break free from the recent consolidation. With a stop below the recent pivot ($13.80) I’m adding shares here as if the trade is a new trade. (Please be advised, the stock is set to report earnings after the bell and I’m sure there will be quite a bit of volatility after the report). Assuming an entry of $15.20 and a stop of $13.80 the risk of $1.40 would warrant approximately 428 shares in order to risk a total of $600. Since I already have 138 shares I’m adding a total of 290 shares.
Added 290 shares : $15.15
Stop on all shares $13.80
Click to enlarge