Spinoffs

Lots of volatility this past week and a sharp move lower.  4 bounces off the red line, which was the prior weekly breakout area.  

We hit oversold level-- quickly so I'd expect a bounce back if there is stabilization. Oversold can always become oversolder so another downward thrust has potential as well.

Game plan:Trade with a bullish bias but  lighten up positions until volatility comes out of the market.

Slice of Pi-- Trade Critique

PI is one of the stocks I traded heavily in August.  My entries and exits are marked.

Weekly for reference:

This one was first entered before I began studying IPOs As a result my initial buys were not as good as they should have been.  That first trade was a loss.  The second two were profitable.

My After-hours earnings buy was a thing of beauty.  I got that price because I understood that earning were extremely positive well before most other did.  This stock barely moved the first 30 minutes in A.h..  I only put a   1/2 position, the next morning the stock ran hard and then it had its pull back.  I tried to get my 5-6 entry-- (5 min chart bounce on 6ema ) on the pull back.  But I got too cute trying to just bid up.  I never got filled.  Had I simply hit the ask,  I could have had 24.80.   I made $2.40 on this trade.  Had I gotten filled on the second 1/2--- that would have been the position I held with my stop moved to b/e.  Obviously that would have been a monster.

Here's how I should have traded PI:

Now What?

So we have a 300 point down day and breaking us to the downside of the tight range we had been trading within.  We have had bearish diversion over the last few months and it looks like it finally caught up with the market.