As you'll see from the chart below, we issued a Buy Alert on CREG Thursday morning when we had confirmation of an ideal breakout setup.
But as happens these days, with HFT, Algo's and whatnot, the prognosis for the success of this trade soured very quickly on the 2 very negative red candles that concluded Thursday's trade.
Then, on Friday morning, with the market opening 150 higher, this one barely moved off the $1.34 closing price from the day before.
So, we'd seen enough and issued a Sell Alert to get out at $1.44(Break-even).
The fact that we saved .06 according to Friday's close and the key fact that we don't have to worry about what might happen Monday makes our decision 100% the correct one..even if it opens at $2(If so, please spare me the emails ;-))
All kidding aside, our methodology often involves taking little nicks and cuts in order to assure that we're in the right place when there's a whopper at the end of the fishing line.