Shared by
foldelinio_BOWS
71.06M float/2.20% short float/no info on institutionals
playbook: recent IPO announced secondary offering for 10M shares @ 18.50$. Shareholders getting out, no dilution. SO - price touched prmkt, but still trading above. Looking for a red/green
Stop: 18.30$ feeler/ 18.37$ real position.
R: 4
Stock flushed on the open a little but quickly recovered on huge volume, signaling that buyers are willing to soak up some of the secondary. I threw a couple of shares at it, just to get a feeling for the stock. When it broke above secondary offering price I put on the real position.
Scaled into resistance a little and added twice as soon as a large buyer/hidden bid stepped up to the .60s.
Unfortunately the stock died mid day, so I closed and left.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-04-15 09:36:13 | SFS | buy | $18.400 | long |
| 2015-04-15 09:40:57 | SFS | buy | $18.520 | long |
| 2015-04-15 09:41:16 | SFS | sell | $18.580 | long |
| 2015-04-15 09:44:39 | SFS | buy | $18.600 | long |
| 2015-04-15 09:58:32 | SFS | buy | $18.600 | long |
| 2015-04-15 09:58:44 | SFS | buy | $18.600 | long |
| 2015-04-15 10:00:35 | SFS | sell | $18.620 | long |
| 2015-04-15 10:56:35 | SFS | buy | $18.600 | long |
| 2015-04-15 11:03:34 | SFS | sell | $18.640 | long |
| 2015-04-15 11:42:54 | SFS | sell | $18.680 | long |
| 2015-04-15 11:43:20 | SFS | sell | $18.650 | long |
| 2015-04-15 11:47:27 | SFS | sell | $18.632 | 0 |
Leave a comment about this trade!
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!