PLPL Pump – First Successful Trade at Break Out
So I came across this stock randomly actually just visiting some sites and wanting to look at their charts to study patterns and break outs and what not. Yesterday when I looked at it, it looked like this!
But this morning after some crazy shit… I woke up to learn that my mother had been in a wreck… But she was okay, so no worries. So I got on to my CPU not really looking to trade, mostly because I’m still working through all the DVD series from Timothy Sykes. But I saw this pump running up from $1.00 this morning, and I was watching it. I saw it bounce several times of 1.45 and I decided what a better time then now to get a feel for a breakout.. So I waited until it cracked into 1.46 and bought 500 shares of PLPL. It rose rather quickly straight into the low 50’s then crash a bit back down to 1.49. I allowed it to do so to continue getting a feel for it, but once it ran back up and surged to 1.52 at that point I saw the breaks coming on at level 2 so I decided I’d sell…
But that’s when I found out, my buy order never actually went through, there was some kind of weird error message… not sure what it meant.. but I guess I was not totally in the stock! … Of well right? It was only like $35 profit. But I had to go ahead and submit it to profit.ly as my first successful breakout pattern trade!
Looking to continue making successful trades, but would like to understand more about pumping… and I believe this was a biotech stock too… Could be a surge off of potential news, earnings… I didn’t bother to check… This was purely for experiencing a breakout buy! But after looking on yahoo, it seems this is a Marijuana play… seems like it could be use to scale other MMJ stocks?