Low float (9.5M float) going parabolic. Met all my criteria for "the Blow-off Top" trade.
Premarket plan was to get "short" at the opening pop to R1=premarket high=$51 but only if it rejected R1 and held below, risking HOD. No-frontside since low-float.
Played way cleaner than expected. Popped to R1, got rejected and rolled-over
got short Tier 0 as it was breaking thru VWAP (maybe a bit late entry) risking HOD, added Tier I for the break of S1=yesterday's resistance pivot=$48, risking $50 for the add targeting yesterday's close=$44.5 at a minimum.
Resolved quickly, covered 50% on target, tightened stop to $48.5 and put bids lower.
A bit lucky as it reversed higher but with a lower high=$48.3 (20c from stop) I stayed in.
(-) Should have reloaded full-size right there, but avoided due to small trading experience with low floats
Covered slowly at flushes all the way down to yesterday's open.
(+) Backside=stress-free.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-01-15 09:56:53 | EH | sell | $48.960 | short |
2021-01-15 10:04:14 | EH | sell | $48.230 | short |
2021-01-15 10:20:18 | EH | buy | $45.210 | short |
2021-01-15 11:19:38 | EH | buy | $43.550 | short |
2021-01-15 11:29:50 | EH | buy | $42.210 | short |
2021-01-15 12:22:02 | EH | buy | $39.330 | short |
2021-01-15 12:32:44 | EH | buy | $39.910 | 0 |
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