February 11th, the followup

This is the balance of yesterday's chart. I was waiting for the 200sma break, and it happened.

I saw the multiple tests of the $15.05 price and pretty much knew what was going to happen, just the exact timing and the extent were question marks. I powered up and checked in just before the last two tests, saw the setup taking shape and left the computer for eight minutes. i didn't enter at the last peak as I figured that there would be one more test to catch before the break...eight minutes later the price had already crossed the 200 on the way down.

HGU chart. The blue circle was my expected move.

So I missed it. I thought that there might be a continuation but did not feel too comfortable taking the trade based on that so I left it alone for the rest of the day.

Checking the HGD, where the long trade would be to catch the drop, the entry would be about $7.71, first target $7.85, second about $8.00. I expect that an exit at $7.95 would have been the most likely but based on the HGU move taking it to $8.05 is not much of a stretch.

So 24 cents per share at 400 shares. At least I know that I was on the right track even if I missed the entry target.

Jeff.