Stock had been tapping $57 in premarket all morning and looked like it was about to blow on a rumor of a buyout at $66. I had a limit for $57.00 so that if the stock hit $57.01 I would be able to get in. Unfortunately I should have had my limit at $57.01 because it filled at $57 without ever breaking and I instantly lost $92. the second trade was an attempt to make it back by shorting the bounce, but I ended up getting out flat. I usually don't trade premarket charts, and this is why. Oh well, lesson learned.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2012-12-20 09:31:42 | ILMN | buy | $57.000 | long |
2012-12-20 09:33:44 | ILMN | sell | $55.160 | 0 |
2012-12-20 09:45:11 | ILMN | sell | $55.330 | short |
2012-12-20 10:01:45 | ILMN | sell | $55.920 | short |
2012-12-20 10:44:43 | ILMN | buy | $55.630 | short |
2012-12-20 10:44:43 | ILMN | buy | $55.630 | 0 |
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