BOUNCE

[andrius]

AIRT defeated me today. Bought in 23.86 the first time and got out 24.10 for +.24. Bought back in again 23.86 and added 23.51. The 2 min bollinger bands were getting really tight and I was expecting it to break to the upside. NEVER PUT A STOP BELOW 23.50!!!

AIRT did the opposite and instead of getting out right away I decided to avg down one more time. I thought about 23.01 but before I could put my order out AIRT was in the 22.80s and well in the negative for the day after reversing yesterdays collapse. Got scared that it might completely break apart and sold 1/2 at 23.09 on the first bounce.

After watching it trade for a few hours very intensly I could see there was a lot of shorting and figured a short covering rally was in the works before close. I kept holding the rest hoping the price would push through the upper bollinger band for a power run. Things were looking all good for a bit and then they slam it again, this time to 22.50 and I put another chunk for sale 22.59 fearing a new days low was coming up.....

Sure enough it turned right there and charged back..... Broke the upper bollinger band and started running up all crazy. Had a sell for the last of my shares at 23.87 but even those got shaken out 23.64. Screwed myself in this trade from every possible angle but its kind of funny how things work out. Hold strong for hours and then start panicking right at the turning point. AIRT ran up $1.70 in the next 22 minutes.... Took an unpleasant minus but I have noone but myself to blame.