Shared by
foldelinio_BOWS
25m float/8% short of float/no info on institutional ownership.
Stop: 48.20$
R:-1
Well, what a nasty trade. Stock hovered around 48$ for half the day, looking weak after the gap. It cracked 48$ on good volume and I missed the break. It crittered back to 48$ on low volume and I wanted to play the pullback short. Right after my entry it spiked against me heavily and I was lucky that it came back to my stop level before I could click the mouse.
Mistake:
If a level is so obvious that everyone watches it and people even tweet about it, it should crack with vengeance and never come back. LEAF just cracked for around 50cts, although it's daily range can be 5$. It also had a double bottom on the 1minute and this should have been a hint for me.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-03-03 12:31:53 | LEAF | sell | $47.910 | short |
| 2015-03-03 12:33:04 | LEAF | buy | $48.190 | 0 |
Comments
foldelinio_BOWS
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Was too overextended to take the short after 15 minutes of lower lows. Unfortunately you also caught a fluke candle that zipped up and right back down but that was probably algos. I know it's scary when it happens though.