Again one of my favorite types of setups to trade or I thought. A Biotech with results news. I got up early this morning, turned on the machines and saw MEDI trading like crazy just before 7 am. Without thinking about it, I bought a 1000 shares at 39 and got filled in 2 seconds. Started looking around for the news and found none. Instead of thinking correctly figuring that someone knew something, I hit a bid quick on half the shares for a small but nice gain. After waiting for a minutes more, I blew out the rest near my entry point and thought it was time for coffee and a shower. Can someone just hit me? I came back 30 minutes later and it was still trading between 39 and 39.50 and still no news. Instead of buying again - I thought some nut must have recommended it and it might be a short later. Crap.
Other than that the day was filled with me not giving my trades long enough to work and my stops being too close. Again my broker will be happy with me and my net result is now I can go out and buy a bunch of happy meals.
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