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.
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