“Bella I cut too early.”
“Damn I cannot believe I sold that FSLR a point ago.”
“I am such a wuss FSLR ran 3 points after I sold it.”
I heard all of these statements on my prop desk today. Selling early is a constant struggle for all of us.
One position that I let run is an IPO holding above a support level. VRSK offered us the perfect example today. 27 has been a level. VRSK could not trade below 27 intraday. So Connor, G, Jeff, and I started a long position. There was some resistance that Jeff alerted us of at 27.25. At 27.25, my response? No sale.
I buy an IPO at support because I do not want to miss an explosive move. From 27 to 27.25 is not an explosive move. Bella long. Bella not selling.
Connor and G were fully loaded as well and were not quick to sell. Job well done by Jeff for sharing this trading idea, and all of them for executing.
VRSK found 28.23 into the Close. Not a bad move intraday. 29 is our next resistance level. We are intraday traders so we lightened up into the Close. As I write I am still long some VRSK. But I emphasize some.
Tomorrow I will look for some follow through. The kind of follow through I did not see after a similar day in another IPO AONE yesterday.
For those searching for set ups to let run. This is one for me.
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