PS was on Steve’s (SMB Capital) morning game plan and it is and oversold stock according to him. This is my own fault for trying to trade it… PS was consolidating near its low (18.5 – 18.7) and I thought it would be a good idea to jump in. I wanted to buy a tier at the low end of the range so I put an order in for 18.57, however, it was trading above that and slowly trending up so I payed the offer at 18.69 for a tier and left my original order there in case the stock tanked then I would get filled another tier. My stop was below this consolidation range (for both tiers) at 18.45. The stock broke down and I got stopped out: it made a low of 18.26 then proceeded to trade back up to a range of 18.6 – 18.8.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-08-01 13:40:53 | PS | buy | $18.690 | long |
2019-08-01 14:18:40 | PS | buy | $18.570 | long |
2019-08-01 14:20:15 | PS | sell | $18.450 | 0 |
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