Wednesday, October 9, 2013

Trade of the day, ARIA!!!

I knew this stock ARIA was going to bounce when it came outta the gates this morning. Went long 1000 shares at pre-market at 5.95 hoping for a nice quick bounce during the open, but  it just started to collapse even more. Decided to double down on another 1000 shares at 5.02, giving me an average buy price of 5.485 holding 2000 shares. I was so confident that the 5 dollar a share price was a good support level. After that price quickly broke through the 5 dollar support, I decided to sell all my shares but ended up getting stuck into the trade when it first got halted. When it re-opened I finally was able to sell my shares for a $1,085 loss. I was trying to catch a falling knife and got really cut up. But the worst part of this trade was watching it bounce for the rest of the day.
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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