Shared by
spyrosz
Major gap-up close to R1=$324.5. R1=$324.5 was major daily resistance level, that sellers had defended 6-times last month, so I thought I would give "short" a shot at the 1st test, expecting a rejection at R1, roll-over and a close near opening print $322-322.5s. Daily gap-fill at $320.6s seemed too aggressive to ask for.
Played per plan...initially. Popped to R1, and I got short Tier 0 size, risking $324.75, expecting to roll-over closer to opening print to cover bulk.
Quickly realized that this was not the tape to be thinking "short"... Covered bulk at flush to $323.3 support pivot, got flat at VWAP remount.
Two attempts to reload small size could have been avoided as tape was looking strong, $323.3 held, and major tech names were holding prices well.
Small winner.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2021-04-01 10:09:12 | QQQ | sell | $324.440 | short |
| 2021-04-01 10:20:16 | QQQ | sell | $324.330 | short |
| 2021-04-01 10:24:43 | QQQ | sell | $324.350 | short |
| 2021-04-01 10:30:41 | QQQ | sell | $324.340 | short |
| 2021-04-01 10:30:48 | QQQ | sell | $324.320 | short |
| 2021-04-01 11:11:01 | QQQ | buy | $323.850 | short |
| 2021-04-01 11:17:28 | QQQ | buy | $323.520 | short |
| 2021-04-01 11:41:28 | QQQ | buy | $323.370 | short |
| 2021-04-01 12:02:22 | QQQ | buy | $323.870 | short |
| 2021-04-01 12:02:26 | QQQ | buy | $323.890 | short |
| 2021-04-01 12:12:29 | QQQ | sell | $323.720 | short |
| 2021-04-01 12:47:25 | QQQ | buy | $324.210 | 0 |
| 2021-04-01 13:09:13 | QQQ | sell | $323.730 | short |
| 2021-04-01 13:42:03 | QQQ | buy | $323.880 | 0 |
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