After my small loss on this trying to go long. I looked it over again and it appeared it was hitting a ceiling. So I went short with no real setup except that observation. I got in at 18.11 with a tight stop in case I was wrong. It danced for a few minutes and began to climb. Stopped out with a $25 loss. That brought me to -$105 on this stock today. But the climb ended in a hard pull back and another topping tail. I got short at 18.38 expecting it to roll over but looking for the first flush. It did pull back pretty rapidly to just below 18. I took half out at 18.05 because I was not sure if it would break 18. Then when it did, I dumped the rest. This earned my deficit back plus $80. Like I mentioned before, I shouldn't have traded this stock at all. I forced these setups and was lucky that it worked out. I am proud of my stop enforcement and taking profit when available.
To see todays trades, including this one, here is a link to the video.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-03-31 10:29:02 | CONN | sell | $18.110 | short |
2021-03-31 10:39:03 | CONN | buy | $18.160 | 0 |
2021-03-31 10:43:40 | CONN | sell | $18.380 | short |
2021-03-31 10:49:37 | CONN | buy | $18.050 | short |
2021-03-31 10:50:04 | CONN | buy | $17.970 | 0 |
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Nice entry on the short.