Another 15-20% gap up premarket. Insane!
Met all variables for "Blow-off Top" setup + probable "exhaustion gap", so on main watch for any sign of weakness.
Premarket plan was to wait for clear backside entry, then once below VWAP w/o being able to remount, time to press hard. Target $100, then low 90s.
Opened $112.5 and put a HOD=$132 in 30mins. Wow!! Got hit along with overall market, so at the 1st bounce,
got short Tier 0, risking HOD=$131.7, expecting to lose VWAP and start holding below.
Huge flush to $100, covered 75% of size. The bounce to VWAP was a market gift.
Reloaded Tier 0, risking $121 for the add, expecting retest of LOD=$100 at a minimum.
Covered some $108 after the higher low. Tight range-consolidation for 2-hrs below VWAP w/o being able to pop at all, offered great opportunity for Tier I size, risking tight stop $113.01, expecting the sell-off in the afternoon.
Covered all 20min before the close as it wasn't moving at all and didn't want to swing it with a close above $100.
Of course it lost -$8 last 5mins.
(+) Backside = stress-free. Legit executions.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-01-25 10:38:40 | FUTU | sell | $122.940 | short |
2021-01-25 10:39:03 | FUTU | sell | $122.700 | short |
2021-01-25 10:45:50 | FUTU | sell | $122.200 | short |
2021-01-25 11:00:17 | FUTU | buy | $113.020 | short |
2021-01-25 11:07:40 | FUTU | buy | $107.210 | short |
2021-01-25 11:09:34 | FUTU | buy | $100.996 | short |
2021-01-25 11:21:51 | FUTU | sell | $115.530 | short |
2021-01-25 11:22:18 | FUTU | sell | $115.350 | short |
2021-01-25 12:00:54 | FUTU | buy | $113.450 | short |
2021-01-25 12:01:53 | FUTU | sell | $112.360 | short |
2021-01-25 12:21:08 | FUTU | buy | $109.600 | short |
2021-01-25 13:17:30 | FUTU | sell | $110.250 | short |
2021-01-25 13:32:31 | FUTU | sell | $110.470 | short |
2021-01-25 14:00:49 | FUTU | sell | $110.060 | short |
2021-01-25 15:00:35 | FUTU | sell | $109.610 | short |
2021-01-25 15:33:30 | FUTU | buy | $109.996 | 0 |
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