Wednesday, November 21, 2007

QDEL- Ran Out of Steam

Watched the market conditions for about 20 mins. VIX was up but the Q's seem to be stable and even inching it's way higher as all the short funds I watch were going up, etc. It was weird. I'd say 80% of my watchlist was in the red but I picked out QDEL and liked what I saw, and wanted to get in. I bought in at 18.46. Initially it looked good, I liked what it was doing. Then the Q's started to fall apart and the tick index was going off at -1000 and everything started to collapse, along with QDEL.


My initial stop was at 18.20 but I jumped ship when it hit 18.35 and got filled at 18.32. It looks to be stabilizing a little bit now at 18.29 while the Q's make lower lows.


I'm happy with this trade. Saw a pattern I liked and I took it. I bailed before it hit bottom which was a wise move as I saved some cash. I'm bummed it didn't work out, but hey, there's always next time and I know I'll make it back.


qdel trade chart

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