Shared by
MichaelBLe
Tags:
6-28
8:13AM
Took this name aggressively this morning when I saw tape increasing quickly. This name has a wide spread, and I'm guessing a smaller float.. I took partial position to start and added very shortly as bids got aggressive. Right now, doing a mid morning pullback, I raised my stop to 172. Not putting on a lot of risk since this is a Chinese stock. Typically, I am more cautious with Chinese names.. The volume isn't there yet. I'm trying to give this as much room as I can.
The fundamentals are encouraging since last year. Strong earnings and sales growth each quarter. Management owning about 6% of the company shares. They want to see this company thrive. Shares float is only 48.4 million. A small float and strong mover in both directions.
7-1
7:40Am
I made an observation while in this trade. The proper pivot entry was at 164.5. My entry of 174 was a bit extended.. Raised my stop to break even when I came to this realization.
Execution detail:
| Date/time | Symbol | Qty | Price | Position |
|---|---|---|---|---|
| 2021-06-28 09:34:08 | FUTU | 50 | $173.700 | 50 |
| 2021-06-28 09:35:11 | FUTU | 50 | $175.170 | 100 |
| 2021-07-01 10:31:23 | FUTU | -1 | $173.970 | 99 |
| 2021-07-01 10:31:23 | FUTU | -64 | $173.970 | 35 |
| 2021-07-01 10:31:23 | FUTU | -35 | $173.830 | 0 |
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