Shared by
Defy
Still have been tracking this trade after earnings. Fourth day since earnings and I am still short biased on the play. Nailed the morning pop and drop but was looking for that all day fade and wasn’t exactly finding it.
Opened up a swing trade around 11:50 AM. Felt it was looking a lot weaker than it has in the past two days but I really wanted to give this thing room because I know it always late day pops. My thesis was that I could catch this on the morning selloff. I knew the chart was definitely not done so I wasn’t confident with holding his position any longer through the day. As you can see it was clearly the right choice because we experience another reversal into the close
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-01-14 10:00:58 | BBBY | sell | $14.925 | short |
| 2020-01-14 10:15:42 | BBBY | buy | $14.795 | 0 |
| 2020-01-14 11:48:08 | BBBY | sell | $15.150 | short |
| 2020-01-15 10:10:32 | BBBY | buy | $15.105 | 0 |
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