CY is a perfect example of making a good pick coupled with bad execution.
I have talked about this stock multiple times as a stock to watch. I bought it off the trendline on the first breakout over $9.20 or so. Note that we didn’t have volume on those failed breakouts. In a bull market, it would have been a good trade. You can be a little more lax when everything is going up.
In this market, without the volume, a bad trade. Finally we get the double bottom and the real breakout on earnings today. After following CY for months, we finally get the move and I don’t own it.
I’ll be waiting for a retest on CY. Going forward, I am only taking the best setups long or short. My stock picking has been fine. I’ve been slipping some on the execution side lately and I am addressing the problem.
