A quick scalp of MOS around 10:00 am. This was a good result and a nicely (lucky) timed exit considering the little pop which followed and the fact that this exit marked the low of the day.
While I did sense that momentum had stalled at my exit point, I say "lucky" because the trend was well under way when I shorted into it just after signing into the markets. I hadn't allowed myself a chance to study what was going on. I saw momentum and the red indices so in I went! So certain was I that it would continue its drop that I allowed the trade to climb on the next two candles after my entry. I was too certain and not strict enough on my stop. Two things to work on: stop loss discipline (as always) and assessing my situation before jumping into the stock. In hindsight, the best entries on a trade, considering when I signed in, would have been to wait and get in long where I had exited. Or, wait until the 11:05am candle after the stock had consolidated into a near-doji then broke free; climbing up on a volume rush. In this case, the higher lows in the consolidation preceeding the breakout would have been a clue to direction of the eventual move.
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