So my first entry was because I saw stock can't lose 90 cents, every time it drops right after that immediately rebid to 90 cents area. My mistake here that I should to take profit around 40 cents area where I didn't, at the open you should close your positions quickly because trend isn't establish yet, so for future-take profit quickly at the open.
the second trade was the same picture, stock refuses to lose 90 cents area but end up losing it. The third one I took around 70 cents, I had a level at 75 cents, stock dived below that 75 cents level came to 61 cents and huge bid came in at 60 cents, stock immediately rebid 70 cents, I pulled the trigger, in this time I was smarter and took profit at 63.50 area, had a level there as well, stock pulled back a bit, we broke above VWAP and now we come to test VWAP, I can't tell that my entry was based on the tape, I mean, I saw nothing that can confirm my entry, so i paid the price.
There were few places where I wanted to short it, it was below dived below VWAP at some point but I refused to trade it for short side because of the news. But its logical that stock is gonna sell off the entire day just because many people want it but not at these higher prices.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-10-23 09:30:58 | GILD | buy | $62.990 | long |
2020-10-23 09:31:09 | GILD | sell | $62.730 | 0 |
2020-10-23 09:31:37 | GILD | buy | $62.900 | long |
2020-10-23 09:39:28 | GILD | buy | $62.930 | long |
2020-10-23 09:40:42 | GILD | sell | $62.690 | 0 |
2020-10-23 09:42:52 | GILD | buy | $62.730 | long |
2020-10-23 09:59:41 | GILD | sell | $63.520 | 0 |
2020-10-23 10:01:22 | GILD | buy | $63.310 | long |
2020-10-23 10:02:10 | GILD | buy | $63.220 | long |
2020-10-23 10:04:08 | GILD | sell | $63.070 | 0 |
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