Shared by
pstark89
The stock was way overextended and pushing up against serious resistance on the daily. My first entry was a little early. Covered partial on the drop. Stock shot up again and I didn't panic out. I picked a spot where it looked like it stalled and added back what I covered earlier. Then I saw a VCR set up. I learned that in a separate chat room. When the 2 minute chart explodes on volume but you essentially have a Doji candle, the rally is getting tired. So I pressed the bet again and then covered at various points as the stock dropped off its highs.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-05-07 14:56:27 | YELP | sell | $47.250 | short |
| 2015-05-07 14:57:30 | YELP | buy | $47.000 | short |
| 2015-05-07 15:01:05 | YELP | buy | $47.150 | short |
| 2015-05-07 15:03:50 | YELP | sell | $47.900 | short |
| 2015-05-07 15:05:39 | YELP | sell | $48.432 | short |
| 2015-05-07 15:06:24 | YELP | sell | $48.040 | short |
| 2015-05-07 15:11:51 | YELP | buy | $47.850 | short |
| 2015-05-07 15:13:39 | YELP | buy | $47.620 | short |
| 2015-05-07 15:14:08 | YELP | buy | $47.330 | short |
| 2015-05-07 15:14:42 | YELP | buy | $47.200 | short |
| 2015-05-07 15:23:46 | YELP | buy | $47.500 | short |
| 2015-05-07 15:31:10 | YELP | buy | $46.560 | 0 |
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