MGI Trade on Oct 30, 2020 14:10 from beno: Tradervue User Stock Trades.

Shared by
beno

Fundamentals

Float = 62M

Catalysts / News / Painting the picture

-Oct 30 2020: Earnings - Income up 123% Y/Y

Technical Analysis

-SPY pattern: Bear Flag
-Intraday pattern: Parabolic Fade
-Other notes: N/a

Strategy / Confluence / Sizing Guide / Risk

Strategy: Distribution
Confluence: Whole $
Strike Zone: 5.05 - 5.1
Sizing (lots + emergency): 1000
Risk (stop / Rs): Hold above 5.05

Review / Lessons Learned

The technicals of this Distribution were very good, like the symmetry of floor and supply line. The downside was good earnings news and it's ETB. Would have extract extra R if target was reached but the strong tape just didn't allow for that scenario which is why I covered early, this was the correct read. +1R

Execution detail:

Date/time	Symbol	Side	Price	Position
2020-10-30 14:10:38	MGI	sell	$5.070	short
2020-10-30 14:10:38	MGI	sell	$5.075	short
2020-10-30 14:10:38	MGI	sell	$5.070	short
2020-10-30 14:10:38	MGI	sell	$5.070	short
2020-10-30 14:10:38	MGI	sell	$5.070	short
2020-10-30 14:13:26	MGI	sell	$5.050	short
2020-10-30 14:13:26	MGI	sell	$5.050	short
2020-10-30 14:13:27	MGI	sell	$5.050	short
2020-10-30 14:13:27	MGI	sell	$5.050	short
2020-10-30 14:13:27	MGI	sell	$5.050	short
2020-10-30 14:18:37	MGI	buy	$5.020	short
2020-10-30 14:18:37	MGI	buy	$5.020	short
2020-10-30 14:20:00	MGI	buy	$4.980	short
2020-10-30 14:20:00	MGI	buy	$4.980	short
2020-10-30 14:20:00	MGI	buy	$4.980	short
2020-10-30 14:20:00	MGI	buy	$4.980	short
2020-10-30 14:22:31	MGI	buy	$4.980	short
2020-10-30 14:22:31	MGI	buy	$4.978	short
2020-10-30 14:22:31	MGI	buy	$4.975	short
2020-10-30 14:33:41	MGI	buy	$4.970	short
2020-10-30 14:33:41	MGI	buy	$4.970	short
2020-10-30 14:33:41	MGI	buy	$4.980	0

#chart1 { background-image:url('/shared/charts/pricechart?symbol=MGI&trade=20811481&end=20201030145541&i=m1&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart2 { background-image:url('/shared/charts/pricechart?symbol=MGI&trade=20811481&end=20201030155441&i=m3&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart3 { background-image:url('/shared/charts/pricechart?symbol=MGI&trade=20811481&end=20201030160000&i=m15&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart4 { background-image:url('/shared/charts/pricechart?symbol=MGI&trade=20811481&end=20201129&i=d&TimeRange=120&Volume=1&ChartType=candlestick&width=450&height=275');}

Comments

anqous

2020-11-02 14:32:09

I also traded MGI but was in the red…...I hope you don't mind me asking you what software your using to trade, i am looking for the best Broker for shorting?

beno

2020-11-02 14:33:05

For this one I used Interactive Brokers

anqous

2020-11-02 14:35:10

Cool thanks