My plan was to short this stock on a crack of 37.00 support level. I anticipated the breakdown and shorted 200 shares at 37.17 once the stock had bounced off this level and the 9 EMA and VWAP resistance held. I had an alright entry but completely botched the management of the trade. I covered 100 shares at 36.51 but I should have been covering on the first parabolic red candle. I waited to long. I covered the remaining 100 shares flat after I had moved my stop down to 37.16. I re-shorted later on after it had gone red to green but began to grind lower testing the 9 EMA. At this time IBB took a dump so I shorted 300 shares at 37.81. I covered 100 at 37.36 once it broke below the EMAs. I moved my stop below my entry and covered the rest almost flat at 37.76. The next two trades were not thought out and basically trades to make up for losses. I re-shorted 300 shares at 37.82 but quickly covered at 38.04 thinking the stock might make a run to the upside.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-03-23 09:46:49 | PRTA | sell | $37.170 | short |
2015-03-23 09:50:04 | PRTA | buy | $36.510 | short |
2015-03-23 10:16:34 | PRTA | buy | $37.160 | 0 |
2015-03-23 10:55:39 | PRTA | sell | $37.810 | short |
2015-03-23 11:00:04 | PRTA | buy | $37.360 | short |
2015-03-23 11:09:37 | PRTA | buy | $37.760 | 0 |
2015-03-23 11:19:09 | PRTA | sell | $37.820 | short |
2015-03-23 11:26:56 | PRTA | buy | $38.040 | 0 |
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