Trade Recap
Ticker (Company) Hi-Crush Partners LP (HCLP)
Plan - Buy support along 50dma, and hold for a breakout above the channel. Small float (~9 million shares) and with oil companies reversing at the moment, I was thinking this chart would piggie back of that momo.
Entry price - $4.75
Exit Price - $4.87
Position Size - 300 shares
Profit (Loss) - $36.00
Learning Point
- No follow through on the chart, I had a great entry and was never underwater but clearly I have no patience. This ticker just bounced around ~.10 for the two days I held, the market and oil ripped but this thing stay stagnant. At one point I was actually up $100 and thought about taking it off the table but HCLP was finally moving some and thought it would keep going so I held. Towards the EOD I got impatient and scrapped the trade, taking no loss and covering commission its really a win. Now since I was impatient come Monday it will rip :).
Chart -
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