At the open the stock didn't reach my lines at $3.30, $3.50 and $3.70 to short an early bounce. The stock reached VWAP again at around 10:00 a.m. but because it's the second attempt I didn't want to chase another rejection because chances of a squeeze were high. Waited for the backside and shorted a bounce at VWAP, risking $3.45 and covered after the stock failed to break further down
--> very solid thesis. No frontside chasing! Need to cover down there earlier though.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-12-04 10:11:35 | HX | sell | $3.190 | short |
2020-12-04 10:17:16 | HX | buy | $3.149 | 0 |
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