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I did try to long SSY today as this is a setup that I'm currently building/ tracking. It is def not my specialty and I knew that it was more risky/ not in my lane so I dropped the size quite a bit. My first try was above vwap when we were coming back up above 6, I thought that we could quickly squeeze to 6.5 if we break the 6.2 line. Granted there was still some more resistance overhead from the morning but given the low float and the massive vol that it was trading I thought that it was a potential idea, the trend was still clearly to the upside. I got stopped out at 5.5 for a small loss. I got back involve at 5.9 when we were retesting the 6 area, I got more aggressive above 6 anticipating that this time we would break 6.3, got stopped out again at 5.5. The lesson here i believe is that I don't have enough data/ stats yet to be longing those random catalyst day 1 play. I think that I need to figure if they work in the afternoon/ if there is edge going long when we are way above vwap etc...
Execution detail:
Date/time | Symbol | Qty | Price | Position |
---|---|---|---|---|
2021-03-16 12:46:29 | SSY | 100 | $5.950 | 100 |
2021-03-16 12:52:18 | SSY | 100 | $6.230 | 200 |
2021-03-16 12:52:18 | SSY | 369 | $6.230 | 569 |
2021-03-16 12:52:18 | SSY | 31 | $6.230 | 600 |
2021-03-16 12:55:34 | SSY | -350 | $5.540 | 250 |
2021-03-16 12:55:34 | SSY | -200 | $5.540 | 50 |
2021-03-16 12:55:34 | SSY | -50 | $5.540 | 0 |
2021-03-16 13:19:05 | SSY | 100 | $5.890 | 100 |
2021-03-16 13:21:05 | SSY | 25 | $6.020 | 125 |
2021-03-16 13:21:30 | SSY | 300 | $6.160 | 425 |
2021-03-16 13:21:58 | SSY | 100 | $6.090 | 525 |
2021-03-16 13:21:58 | SSY | 100 | $6.090 | 625 |
2021-03-16 13:21:59 | SSY | 100 | $6.090 | 725 |
2021-03-16 13:21:59 | SSY | 100 | $6.100 | 825 |
2021-03-16 13:22:05 | SSY | -100 | $6.150 | 725 |
2021-03-16 13:22:05 | SSY | -100 | $6.140 | 625 |
2021-03-16 13:22:05 | SSY | -100 | $6.150 | 525 |
2021-03-16 13:22:05 | SSY | -100 | $6.140 | 425 |
2021-03-16 13:35:01 | SSY | -25 | $5.600 | 400 |
2021-03-16 13:35:03 | SSY | -400 | $5.530 | 0 |
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