Seen this before it had eanrings. was really considering a short into earnings but didnt want to put on to much exposure for myself.
Was in this last, when they had horrible eanrings and activist investors were trying to re structure the company. this was not a great moment for them and it had looked as though they were having a comeback. Problem is when you look at their lagging revenues it shows a dying business trying to stay afloat.
read over the earnings night before, had seen it already gapped down about 1.30. knew that morning would be fun. Had to wait because I was still managing the position in APA. Once capital opened up I looked for an entry into a bounce. Put starter position in place and then added to the position once it was confirmed on the pop around 11:30.
Happy with my exit, didnt over stay my welcome just got in and out as the chart showed me.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-01-09 10:46:00 | BBBY | sell | $13.620 | short |
2020-01-09 11:38:45 | BBBY | sell | $13.430 | short |
2020-01-09 12:06:00 | BBBY | buy | $13.398 | 0 |
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