Monday, January 08, 2007

Closed out STEM trade

I bought STEM from last Thursday. Here is how the trade turned out...
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1. Why did I take this trade?
Because the stock was showing showing follow thru buying from the morning's base and explode pattern.

2. What was the initial stop?
Initial stop was @ 2.91. Later
I moved up my stop to 3.40.

3. Why did you exit where you did?
I exited STEM even though there were no indications that my stop going to be hit. In fact, STEM put in an inside day, where the whole session (except for the morning dip) was range bound to within the first 15-min OR bar. There was no technical reason to sell this stock. I think it was my bearish bias showing up again, and I was caught trying to anticipate a selloff that never occurred.

4. Is there anything you would do differently?
Yes, don't micromanage my stop loss @3.40.

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