Shared by
ToqueX
Grade=C-
The setup, please: shorting the bounce
So is that what it was, really?: Yes, actually.
How did that one work out for you?: It could have been a lot better. I got the move, but it was really lethargic with its movement, so I ended up tightening my stop to where I knew I was going to get stopped out if it didn't wash out on a larger down move. With more patience, I could have squeezed some more out of it, but not much more. Well played on the first exit I think.
Overall: We had more range the previous day, and perhaps I could have realized that there wasn't too much probability of much range this day, but with a stock like this I think it's hard to presume too much, so I took what I got.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-04-24 09:52:54 | ENZN | sell | $1.660 | short |
| 2015-04-24 09:52:55 | ENZN | sell | $1.660 | short |
| 2015-04-24 09:55:11 | ENZN | sell | $1.660 | short |
| 2015-04-24 09:57:46 | ENZN | sell | $1.660 | short |
| 2015-04-24 09:57:49 | ENZN | sell | $1.660 | short |
| 2015-04-24 10:11:54 | ENZN | buy | $1.620 | short |
| 2015-04-24 10:19:17 | ENZN | buy | $1.650 | 0 |
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