I spent my morning focused only on trading LVS. I was concerned with two levels - The 43.30 level which I was interested in getting long if I saw confirmation from the Tape and 43.90 - 44 for a target. I wasn't interested in getting short since the market was really strong.
I took a total of 3 trades. One was a scatch, my second trade stopped out for a 1 R loss and my third trade was this one which was good for an overall profit of 5.5 R's based on the dollars at risk. I position sized this trade with .10 cents of risk and quickly adjusted my stop to .05 cents. I noticed a seller at .55 that was holding the offer and was selling a bunch. Once .50's started to hold the Bid I added half a Lot at .52 and adjusted my stop to B/E. My plan was to add once the seller lifted .55's which is where I took the offer and got filled at 43.59. I was still in a position of strength and took a piece off at .68 and was looking to see if we make a run to 43.90-ish. Once I saw .74's hold the offer I decided to kill the balance below .70 since it was time for me to wrap up my day...
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2012-06-29 09:54:19 | LVS | buy | $43.320 | long |
2012-06-29 10:08:52 | LVS | buy | $43.520 | long |
2012-06-29 10:12:14 | LVS | buy | $43.590 | long |
2012-06-29 10:14:12 | LVS | sell | $43.680 | long |
2012-06-29 10:24:48 | LVS | sell | $43.690 | long |
2012-06-29 10:24:48 | LVS | sell | $43.690 | 0 |
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