PTON had great ER reaction
-PTON's opening drive play was extremely predictable as we have seen throughout this ER season when a company had fantastic news and spikes huge. It predicates that the market will take profits at the get go.
-PTON wan't able to get over 46 as a premarket high twice and that was the resistance I used to gauge the opening top.
-The first minute candle was weak as shown from the tape. I peeled off profits as it pulls. Once the stock started reversing and the initial selling pressure ease off on the tape, I covered and got flat.
Shares Traded: 400
PNL: 145.50
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-05-07 09:31:33 | PTON | sell | $45.080 | short |
2020-05-07 09:32:06 | PTON | buy | $44.470 | short |
2020-05-07 09:32:55 | PTON | buy | $43.960 | short |
2020-05-07 09:33:20 | PTON | buy | $44.510 | 0 |
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