Stupid actions deserve stupid losses, and man did I play with fire on the front-side.
Premarket plan was to get "short" the opening pop to R1=yesterday's HOD=premarket high=$413.5, expecting a rejection there and a move back to opening print S1=$412.5, then maybe lower towards S2=$410.5.
1st attempt
Opened strong, rallied to R1, got short filler, risking very tight stop $413.75s, wanting to add thru VWAP break.
Held, put a bull-flag, strong tape, and I quickly hit the offer as it was breaking higher (before stop).
I am ok with that trade. Traded premarket plan properly, just didn't work...
2nd+3rd attempts
BIG seller sitting at $413.8-414 unloading, and me instead of putting offers right into that area, was FOMO-hotkey-in right in-front of support after each rejection.
Shorting support, covering resistance. Wow!
-- Put the f@cking offer $413-7-414, stop $414.25, bids lower. 1+1=2
Amateur hour. Tragic:/
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-04-14 09:51:20 | SPY | sell | $413.270 | short |
2021-04-14 09:51:20 | SPY | sell | $413.270 | short |
2021-04-14 09:51:20 | SPY | sell | $413.270 | short |
2021-04-14 09:55:47 | SPY | buy | $413.560 | 0 |
2021-04-14 10:02:04 | SPY | sell | $413.410 | short |
2021-04-14 10:02:04 | SPY | sell | $413.410 | short |
2021-04-14 10:33:06 | SPY | buy | $413.880 | 0 |
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