Wednesday, January 30, 2013

Trade of the day, KERX!!!

So I caught some of a short squeeze this morning on KERX. Went long 1000 shares at 9.09 after the candlestick hammer formed on the 5-minute chart. I wasn't really looking for a profit target price with KERX, but just observing it for a little top heavy action or a candlestick sell signal. A shooting star bar pattern did form about 18 minutes after I entered the trade, and I got out exactly at that bar's close at 9.60 for a .51 point gain.
If you want to see what I might be trading during market hours and interact with me during my trading days, just follow me on stocktwits or twitter @tradermike9. Thanks!

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