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spyrosz

 

PTON

Feb 17, 2021 10:01


Tags:

(Ac) Interactive Brokers (P) Weakness+Consolidation-Breakdown (S) Support Level Breakdown (extra) Cannot Miss That Trade (extra) Market Bubble 2021

Yesterday annihilated all $150.5 break-out buyers with a reversal candle that closed at $146, just $3 higher than S1=major daily support level=$143. Below S1, minor support at S2=139 before S3=20SMA@weekly=$134 that dictates the overall trend.

Premarket plan was to get "short" only if it broke and held below S1=$143, expecting the move to S3=$134.

Opened weak and flushed below S1 instantly. 30min consolidation below S1, remained so weak that couldn't even make a proper retest of S1, rejecting VWAP at each bounce attempt, just couldn't get better.

Got short Tier I after 2nd rejction at VWAP, risking tight stop above S1=$143, added two momo tiers for the break of LOD=$140.5, risking tighter stop latest VWAP rejection at $141.5 for the adds, expecting flush to S2, then slowly find its way to S3.

Covered small at 1st flush to S2=$139, reloaded at the bounce + rejection of previous LOD=$140.5, and covered some at S2 and at the move lower.

So weak tape, PTON just couldn't find bid. Once it started holding below S2=$139, reloaded back some size, risking the lower high=$139.5, expecting next leg lower.

Got flat at $135.5-136 area...and then bought it for a bounce.

(+) Thesis + good executions + tape confirming + market alignment = big trade!


Execution detail:

Date/time Symbol Side Price Position
2021-02-17 10:01:18 PTON sell $141.360 short
2021-02-17 10:02:36 PTON sell $141.400 short
2021-02-17 10:04:08 PTON sell $141.030 short
2021-02-17 10:13:20 PTON sell $140.620 short
2021-02-17 10:15:51 PTON sell $140.530 short
2021-02-17 10:16:13 PTON buy $139.550 short
2021-02-17 10:20:45 PTON sell $140.000 short
2021-02-17 10:20:45 PTON sell $140.000 short
2021-02-17 10:21:30 PTON buy $139.560 short
2021-02-17 10:22:51 PTON buy $139.210 short
2021-02-17 10:22:51 PTON buy $139.210 short
2021-02-17 10:22:53 PTON buy $139.110 short
2021-02-17 10:22:53 PTON buy $139.110 short
2021-02-17 10:30:20 PTON buy $138.210 short
2021-02-17 10:36:21 PTON buy $139.380 short
2021-02-17 10:57:11 PTON sell $138.740 short
2021-02-17 11:06:37 PTON buy $137.210 short
2021-02-17 11:16:29 PTON buy $136.210 short
2021-02-17 11:21:48 PTON buy $136.420 0


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