Shared by
BanalityOfEvil
pre-market scalp
Overall markets selling off near major support on several month basis since yesterday around SPY 380 level. Overall bearish bias on the day unless SPY bounces massively. AESE news of buyout offer, symbol filtered through T.I. pre-market scanner. Tried to get in on this with max pm size of 100 and 200 shares immediately after news break above $3.00. Tried this 5 times between 7:30 and 8:30. Volume pickup several times but could not stay over 330 (yesterdays close)level. Several wide range candles formed but it felt like the stock was being held down somehow. Larger size on the bid for a solid hour low size on offer but price action did not reflect this data. Maybe a hidden seller or a borderline lack of attention on the play as it came out of left field.
Managed stops well.
Should have called it quits on this play after 3rd attempt when 3:30 broke on volume and failed.
Don't press when something feels like it is not working. Utilize time better by giving low conviction trades a max of 2 attempts and then move on. Don't waste capital.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2021-03-05 08:30:23 | AESE | buy | $3.390 | long |
| 2021-03-05 08:33:01 | AESE | sell | $3.190 | 0 |
| 2021-03-05 08:37:08 | AESE | buy | $3.140 | long |
| 2021-03-05 08:37:08 | AESE | buy | $3.150 | long |
| 2021-03-05 08:40:21 | AESE | sell | $3.050 | 0 |
| 2021-03-05 08:40:42 | AESE | buy | $3.150 | long |
| 2021-03-05 08:41:17 | AESE | buy | $3.240 | long |
| 2021-03-05 08:41:51 | AESE | sell | $3.150 | long |
| 2021-03-05 08:42:16 | AESE | buy | $3.280 | long |
| 2021-03-05 08:43:59 | AESE | sell | $3.220 | long |
| 2021-03-05 08:46:01 | AESE | buy | $3.280 | long |
| 2021-03-05 08:47:20 | AESE | sell | $3.260 | long |
| 2021-03-05 08:50:18 | AESE | sell | $3.200 | 0 |
| 2021-03-05 09:00:42 | AESE | buy | $3.230 | long |
| 2021-03-05 09:01:31 | AESE | buy | $3.290 | long |
| 2021-03-05 09:02:38 | AESE | sell | $3.310 | long |
| 2021-03-05 09:07:07 | AESE | sell | $3.180 | 0 |
| 2021-03-05 09:30:29 | AESE | buy | $3.128 | long |
| 2021-03-05 09:30:32 | AESE | buy | $3.149 | long |
| 2021-03-05 09:30:40 | AESE | sell | $3.160 | long |
| 2021-03-05 09:31:44 | AESE | sell | $2.990 | 0 |
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