Shared by
spyrosz
Yesterday broke below R1=major daily support level=50SMA@daily=ascending trendline est. at Covid low=$111.5.
Premarket plan was to get "short" the opening pop to R1=$111.5, expecting longs trapped at higher prices to trim/cut size, and new sellers to defend the level.
Played nicely. Opened strong and popped towards R1, but got rejected 50c lower and none of my offers got filled. Thankfully, got a 2nd chance with the rally back to HOD,
got short Tier 0, risking above R1=$111.5, added two momo tiers once it lost VWAP, tightening stop to HOD for the whole size, expecting to roll-over, lose VWAP and move towards opening print.
Covered bulk into target, and some into $109 flush. If it remained weak I would hold trailer for swing short, but reversed hard along with market.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2021-05-13 10:04:25 | SBUX | sell | $110.960 | short |
| 2021-05-13 10:04:25 | SBUX | sell | $110.950 | short |
| 2021-05-13 10:52:53 | SBUX | sell | $110.650 | short |
| 2021-05-13 11:05:53 | SBUX | sell | $110.670 | short |
| 2021-05-13 11:46:10 | SBUX | buy | $110.110 | short |
| 2021-05-13 13:41:07 | SBUX | buy | $109.365 | short |
| 2021-05-13 14:16:03 | SBUX | buy | $109.990 | 0 |
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