Shared by
thearmotrader
Earnings play
-Plan was to get long 52.00 if it held the bid. 52 big level on daily and pre-market.
-Got long 52.01 when the bid wouldnt drop, mistakenly hit out when I thought bid was going to drop
-So bought right back in but hit out once bid actually dropped.
--Once I saw 52.00 couldnt hold, thought this would be a good short/fade play--
-Tried 2 shorts but got shook out both times and stopped trading TGT.
^^Should have waited for it to get tight BELOW 52.00 to short (Just like it did right before It dropped)
{Note: 10:30 Conf Call so no touching from 1030-1130)
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2011-08-17 09:31:23 | TGT | buy | $52.010 | long |
| 2011-08-17 09:31:48 | TGT | buy | $52.010 | long |
| 2011-08-17 09:32:15 | TGT | sell | $52.000 | long |
| 2011-08-17 09:32:15 | TGT | sell | $52.000 | 0 |
| 2011-08-17 09:33:07 | TGT | buy | $52.010 | long |
| 2011-08-17 09:33:27 | TGT | buy | $52.010 | long |
| 2011-08-17 09:38:03 | TGT | sell | $51.995 | long |
| 2011-08-17 09:38:16 | TGT | sell | $51.900 | 0 |
| 2011-08-17 09:40:01 | TGT | sell | $51.990 | short |
| 2011-08-17 09:40:45 | TGT | buy | $52.050 | 0 |
| 2011-08-17 09:42:36 | TGT | sell | $51.990 | short |
| 2011-08-17 09:47:10 | TGT | buy | $52.130 | 0 |
Comments
thearmotrader
^^ @Jung
Nearly two years but my styles have changed (small cap day trading,swing trading).
Ive been trading my current day trading style (bigger cap names,in-play names) for only ~6 months now.
Jung
aaah, so you're not looking at these stocks based on there daily gaps but rather because they're in-play and you try to find levels is that correct?
^@jung
-Yea, but usually in-play stocks do gap up. But yes, mainly trade in-play stocks and I find levels on them using pre-market,15min and daily charts
Jung
Sounds Good, Thanks
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Hi Thearmotrader, how long have you been trading?