Trade Review ROYL "How to Trade 3 day Pullback" | Bulls on Wall Street

Trade Review ROYL "How to Trade 3 day Pullback"

Here is a trade review on ROYL which we added at 5.3 on 2/23/2012 on a 3 day pullback with a huge run in oil.  I liked this stock for a few reasons. 1. we had a very nice clean breakout in oil which put a bid in oil stocks. 2. The chart on ROYL was bought on a low risk pullback in anticpation of a breakout.

We added this stock at 5.31 then added more at 5.50 the next day when it broke the previous days high. After selling off partial shares we added again at 5.8 on intraday breakout selling off a partial at 6.14.  The next day when a setup emerged we added more on intraday break at 6.68 finally selling off our shares at 6.97 and 6.78.

I give myself an A- on the trade. I could have been more aggressive adding more shares on r/g on 2/27 and then doubling up again at intraday break but I missed the trigger as I took my eye off it for a few moments in the morning.

From our original buy to our last sell this stock ran 31% in just 2 days! Thats what I love about momo stocks when they get going you can keep playing them over and over!

 

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