Shared by
beno
Fundamentals
-Float = 460M
Catalysts / News / Painting the picture
-Oct 21 2020: Social media companies shares trading higher after SNAP reported good earnings
Technical Analysis
-SPY pattern: Consolidation
-Intraday pattern: Parabolic Fade
-Other notes: N/a
Strategy / Confluence / Sizing Guide / Risk
Strategy: First test short of 49.8 level
Confluence: 3m-JL, Whole $
Strike Zone: 49.75 - 50
Sizing (lots + emergency): 500
Risk (stop / Rs): Hold above 50
Review / Lessons Learned
Main mistake here was trying to short a social media sector stock after SNAP had really good earnings, had a feeling this was going to happen but tried the B grade setup regardless, -1R
Lessons Learned: Avoid shorting large cap stocks in hot sector with recent good news! (Look for longs instead)
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-10-21 11:26:32 | PINS | sell | $49.800 | short |
| 2020-10-21 11:26:32 | PINS | sell | $49.800 | short |
| 2020-10-21 11:30:31 | PINS | sell | $49.930 | short |
| 2020-10-21 11:30:31 | PINS | sell | $49.930 | short |
| 2020-10-21 11:31:51 | PINS | buy | $50.010 | short |
| 2020-10-21 11:34:11 | PINS | buy | $50.020 | 0 |
| 2020-10-21 11:53:25 | PINS | sell | $49.800 | short |
| 2020-10-21 11:53:25 | PINS | sell | $49.800 | short |
| 2020-10-21 11:53:25 | PINS | sell | $49.800 | short |
| 2020-10-21 11:53:59 | PINS | buy | $49.817 | short |
| 2020-10-21 11:53:59 | PINS | buy | $49.820 | short |
| 2020-10-21 11:53:59 | PINS | buy | $49.820 | 0 |
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