Shared by
spyrosz
After yesterday's strong rejection of Day I (earnings day) HOD=$515.5, thought people who played the "break-out long" trade vs the bottom channel boundary would be trapped.
Break and hold below S1=long-term ascending support line=lower boundary of major daily channel=$504.5s would cause some panic and S2=$500 would be in-play, maybe S3=$494.
Premarket plan was to "short" the opening pop to R1=yesterday's resistance pivot=$511.2, expecting to reject price, roll-over and break S1=$504.5.
Played well. Offer for filler+Tier 0 size got hit at the opening pop to R1=$511.2, risking tight stop $512, expecting the sell-off to S1, then S2/S3.
Covered some in-front of S1, but as QQQs were getting hit (market alignment) and NFLX was rejecting VWAP to the penny, reloaded size fot the S1=LOD break, tightening stop above the m.average for the whole position, expecting the break lower.
Covered some in-front of S2=$500, flat at the flush below the level, as market got really extended and a bounce was coming.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2021-05-04 09:29:58 | NFLX | sell | $508.900 | short |
| 2021-05-04 09:29:59 | NFLX | sell | $509.900 | short |
| 2021-05-04 09:30:00 | NFLX | sell | $510.890 | short |
| 2021-05-04 09:40:13 | NFLX | buy | $505.220 | short |
| 2021-05-04 10:02:46 | NFLX | buy | $505.280 | short |
| 2021-05-04 10:04:05 | NFLX | buy | $505.320 | short |
| 2021-05-04 10:23:59 | NFLX | buy | $504.810 | short |
| 2021-05-04 10:32:36 | NFLX | sell | $503.610 | short |
| 2021-05-04 10:50:39 | NFLX | buy | $501.220 | short |
| 2021-05-04 12:02:01 | NFLX | buy | $498.880 | 0 |
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