Shared by
GeoJosh
What was happening in the market
Dick's Sporting Goods' (DKS) fiscal Q1 results topped expectations as stimulus payments helped push same store sales 115% higher. Analyst says risk remain. Given this, I expected the peak to be short-lived
What was the set-up
Up-trending on the 30 minute chart with the expectation of reversal
What did I trade it
I went short premarket at $99 with the believe the price was over-extended.
**
Learning Experience **
While the idea was right, given my experience, I should have waited for the market to open and wait for a trend to develop and then trade it.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2021-05-27 08:40:29 | DKS | sell | $99.000 | short |
| 2021-05-27 09:30:02 | DKS | buy | $100.058 | 0 |
| 2021-05-27 09:38:10 | DKS | sell | $98.690 | short |
| 2021-05-27 09:38:53 | DKS | buy | $98.968 | 0 |
| 2021-05-27 09:40:32 | DKS | sell | $98.750 | short |
| 2021-05-27 09:42:01 | DKS | buy | $99.100 | 0 |
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