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foldelinio_BOWS
Playbook: Both above 300m float, so definitely not momentum names. The FTC recommended a lawsuit to block the merger of those companies (tobacco industry). Both stocks reacted by gapping down. I will look for intraday correlation, buy the stronger one and short the weaker.
Stop: 65.40$
R: 0
.30s where line in the sand and I shorted it everytime bids where weak around this area. Stock refused to tank however and there was some weird algo/arb action between .29s and .35s the entire moring. So I decided to leave the stock alone, as I couldn't figure out, what was going on.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-03-31 09:50:46 | LO | sell | $65.350 | short |
| 2015-03-31 09:52:07 | LO | buy | $65.250 | short |
| 2015-03-31 09:54:11 | LO | buy | $65.380 | 0 |
| 2015-03-31 10:10:04 | LO | sell | $65.310 | short |
| 2015-03-31 10:10:52 | LO | buy | $65.300 | 0 |
| 2015-03-31 10:12:30 | LO | sell | $65.260 | short |
| 2015-03-31 10:12:50 | LO | sell | $65.270 | short |
| 2015-03-31 10:23:36 | LO | buy | $65.378 | 0 |
Comments
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Yeah! i tried it short it early. HFT's seemed really active later in the day