Strategy: “C” set up – Intra-day Range Trading – June 1st, 2021
Ticker: OEG – Orbital Energy Group
Float: 46.87 million
Volume: 98.3 million – 10:55am
Catalyst: New Sales Contract
Market Con: Weak – SPY and QQQ flat
Pre- Market: trending to the upside with PM High of $6.00
Open: Tried to continue up multiple times, hit new HOD $6.41, then stalled
Side: SHORT
Prop Entry: HOD x 1000 (Half Size)
Actual Entry: 1st 1000x$6.15, 2nd 2200x$5.98, 3rd 2100x$6.16 began to show weakness
after initial push at the open, not able to make new higher highs.
Stop: $6.41 – Mental stop
Profit Target: $5.40’s - $5.50’s
Issue: None, OEG already had a false breakout at the open with a $.70 flush.
Trading with the range of $5.60's to $6.30's
Outcome: Trade went according to plan. 1st trade at 1000x$6.15@10:10
covered around $5.70’s. 2nd trade scaled in 2200x$5.98@10:36
covered 600x$5.84@10:41, break even on the rest with buyers
gaining strength. 3rd trade scaled in 2100x$6.16@10:50
covered in the $5.50’s - $5.60’s as it flushed hard.
Total gross profit of $1,647.00.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-06-01 10:10:03 | OEG | sell | $6.150 | short |
2021-06-01 10:11:17 | OEG | buy | $5.790 | short |
2021-06-01 10:12:29 | OEG | buy | $5.750 | short |
2021-06-01 10:19:18 | OEG | buy | $5.720 | 0 |
2021-06-01 10:31:14 | OEG | sell | $6.030 | short |
2021-06-01 10:32:29 | OEG | sell | $5.920 | short |
2021-06-01 10:36:02 | OEG | sell | $6.060 | short |
2021-06-01 10:36:45 | OEG | sell | $6.080 | short |
2021-06-01 10:40:46 | OEG | buy | $5.910 | short |
2021-06-01 10:41:46 | OEG | buy | $5.840 | short |
2021-06-01 10:44:34 | OEG | buy | $5.960 | 0 |
2021-06-01 10:49:02 | OEG | sell | $6.100 | short |
2021-06-01 10:49:15 | OEG | sell | $6.170 | short |
2021-06-01 10:50:10 | OEG | sell | $6.200 | short |
2021-06-01 10:50:47 | OEG | buy | $5.630 | short |
2021-06-01 10:50:48 | OEG | buy | $5.600 | short |
2021-06-01 10:50:49 | OEG | buy | $5.600 | short |
2021-06-01 10:50:50 | OEG | buy | $5.540 | short |
2021-06-01 10:50:59 | OEG | buy | $5.640 | 0 |
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nicely done.