Shared by
beno
Fundamentals
-Fresh S-3 with no effect
-No prospectuses or warrants
Catalysts / News / Painting the picture
-Sep 23 2020: Launches New Electric Vehicle Company Subsidiary
Technical Analysis
-SPY pattern: Fade
-Intraday pattern: Runner, Big Pullback
-Other notes: Craziest runner market has seen in awhile, re-ignited small caps
Strategy / Confluence / Sizing Guide / Risk
Strategy: Distribution (micro)
Confluence: N/a
Strike Zone: 18 - 18.5
Sizing (lots + emergency): 200
Risk (stop / Rs): Quick reclaim of 19 or micro high
Review / Lessons Learned
+2R trade and my trade of the day, was getting tired of missing all these plays and I noticed a micro distribution setting up, tape looked good (weak bids) so I went for it and it played out perfectly.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-09-23 15:42:32 | SPI | sell | $18.000 | short |
| 2020-09-23 15:42:46 | SPI | buy | $16.110 | short |
| 2020-09-23 15:44:17 | SPI | buy | $16.500 | 0 |
Comments
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Nice work.