There haven't been any niche setups the past couple days. Yesterday I did well by just sitting and watching. Today I let boredom take the best of me and got into trades that I normally wouldn't get into. As I've said before, when stocks tend to "grind" and trend along the 9ema it's best to sit and watch if you're tempted to short. I was waiting for the blow off candle on $PACB using $7 as a guide o/u. It did happen but quickly reclaimed 9ema, broke through and kept on trending all the way to $8. I had 300 shares at a $6.97 average. I took it off near $7.30. My other trade was $BCEI short. I thought this stock had ran too much the past few days. A stock being up up too much is never a good enough reason for wanting to short. The oil sector has been hot the past few days and so has $BCEI being a part of the sector. I shorted on a dip (against my rules. short pops and not dips) thinking it was finally breaking down and covered when it kept on holding a certain level for commissions loss. Later on it ended up dropping all the way to $6.40. Oh well. Here are the charts:
BCEI
PACB
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