My first observation was that it was a possible double top that could be shorted if it broke through support around the 12.50-12.55 area. After it rebounded off that support level, I noticed that it could be setting up for a nice decending triangle. From the chart above, you can see that that is (roughly) what it did. I believe I said that it could break support around 14:20 following the general guideline that a triangle breakout tends to occur around the 3/4 mark. Given that the height of the triangle was approx. .40, that would have been my target for the trade. Though there wasn't much volume behind it the breakout, I don't think it would not have been entirely unreasonable to enter the trade at this point. If I had entered at this point, I'd like to pretend that I would have been smart enough to get out of the trading as volume increased, and the price returned to go back within the triangle, but I'm not really that bright. My worst case stop would have been at the top of the triangle @ 12.70, which would have meant a .20 loss. At that point the stock actually broke out slightly through the top on high volume and on the 5min bar at my originally stated time of 14:20, but looking back at the tape, much of that volume occured with one really large trade at 12.61. Nothing very exciting occured outside of the triangle that would have had me in a long trade, especially one relying on the fact that MBI would go up to 13.10 (with the .40 target) with the market looking the way it was. At this point in the day, and pattern, it was still reasonable to think the stock had one last chance to sneak out through the 12.50ish support. It finally made a break on higher volume, and this time as it wiggled back into the triangle, it did so on decreasing volume, rather than increasing, and did not touch my worst case stop at the top of the triangle. It cruised on to the intended target at the 12.10ish mark, where it encountered a bit of resistance. That's the sort of place where I would exit 1/2 of my position, and let the rest run, using the MA(10) as a stop, until it hit another point of resistance, or, in this case, 15:58 or so since I don't hold overnight. At worst, if I took that .20 loss, and exited my entire position at the target of .40, it still would have yielded a .20 profit. With the position sizes I use, that is enough to easily cover commisions, and walk away with a bit of cash.