Shared by
ckz8780
Short squeeze. This would have been better as a scalp but my phone rang just as I was about to cover so I missed it. Covered half for 25 cents and the other half flat. +$12.51.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2012-11-16 14:18:26 | SINA | buy | $45.250 | long |
| 2012-11-16 14:18:26 | SINA | buy | $45.250 | long |
| 2012-11-16 14:42:08 | SINA | sell | $45.510 | long |
| 2012-11-16 15:21:18 | SINA | sell | $45.240 | 0 |
Comments
ckz8780
2012-11-19 19:46:12
You're right - they are definitely scalp plays. However they do work occasionally and are almost always very low risk. Check out this squeeze in DFT! http://www.tradervue.com/shared/trades/284709
Of course you're right, the major trend is down on these and they are ideal for shorts but sometimes they just get so hammered down there is nowhere to go but up! :)
Leave a comment about this trade!
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!
I personally don't think the success rate on these "short squeezes" is all that great. I love the way the chart looks for it to break to the upside and I do make these trades myself from time to time. But lately I have not been because I remind myself that there is a reason this stock is down so much so why not just use that catalyst for another short setup. Most of the time they jump up a few cents and then people hammer it eventually with selling again because of the clearly horrible news which is why it is a big gap down in the first place. Just something to think about :)