Shorted it just before the open. Risky trade but this setup has been working for me. Five green days on the daily, overbought, followed by a huge gap up on mediocre news. Great opportunity to fade the gap; it's just too far extended. Several scale outs and covered last at the 9ema.
Stop 37, moved to 36.20 (HOD) after first flush.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-06-02 09:28:43 | BRCM | sell | $36.000 | short |
2014-06-02 09:43:08 | BRCM | buy | $35.070 | short |
2014-06-02 09:43:08 | BRCM | buy | $35.070 | short |
2014-06-02 09:43:08 | BRCM | buy | $35.070 | short |
2014-06-02 09:48:45 | BRCM | buy | $34.690 | short |
2014-06-02 09:48:45 | BRCM | buy | $34.690 | short |
2014-06-02 09:48:45 | BRCM | buy | $34.690 | short |
2014-06-02 10:03:05 | BRCM | buy | $34.200 | 0 |
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