Not a setup.ISIS was pulling back to the area of morning consolidation and its 9 ema where I thought It might meet resistance.
This was an attempt at being anticipatory.
What I didn't recognize (altho I think I saw it) was that ISIS bounced off its 20 DMA on the open (buyers),and that when it tested that area again at 10:15 it was rejected again by buyers. This is also the area it launched it's most recent move from (before it announced positive phase 2 trials on some drug)
With that said, it gets worse...instead of entering...
55.02 stop Target 54.02 "buys to cover" uh...I shorted 135 more, and then, not understanding that those orders had executed, entered yet another "sell" to close my short.
A trade that shoulda hurt me by around $33 got me for $87.
I just realized I need to change my routine after the close. After I journal here, I need to go to preparing my watchlist and potential trades for the next morning instead of getting sidetracked by looking at others' trades. That review has been helpful, but needs to take a backseat to my own prep.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-12-16 10:18:05 | ISIS | sell | $54.690 | short |
2014-12-16 10:20:15 | ISIS | sell | $54.970 | short |
2014-12-16 10:20:16 | ISIS | sell | $54.970 | short |
2014-12-16 10:22:27 | ISIS | sell | $54.720 | short |
2014-12-16 10:26:04 | ISIS | buy | $55.070 | 0 |
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!
20sma right below. Not an idea short play here.