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NIO was very strong yesterday, stretching past an ATR. I was looking for follow through today, so my initial trade was long looking for a dip and rip. That trade got stopped out an NIO began to look like a really good short. On the previous 5 minute bar, it had wicked slightly under VWAP before making a new low. I placed bids in a similar spot just below VWAP and they got hit. It was a real sniper entry as price only went 1 penny higher before reversing. The trade started working right away and I was able to cover at increasing profit targets. I held the remainder for the day to see if it would push lower, but that never materialized. There is no catalyst one way or the other, so I didn't want to do an overnight swing and closed my position shortly after the close of trading.
Execution detail:
Date/time | Symbol | Qty | Price | Position |
---|---|---|---|---|
2021-07-09 09:44:59 | NIO | -50 | $46.370 | -50 |
2021-07-09 09:47:04 | NIO | 10 | $45.810 | -40 |
2021-07-09 09:53:14 | NIO | 10 | $45.620 | -30 |
2021-07-09 10:05:41 | NIO | 10 | $45.360 | -20 |
2021-07-09 10:17:34 | NIO | 5 | $45.260 | -15 |
2021-07-09 10:29:00 | NIO | 5 | $45.000 | -10 |
2021-07-09 10:30:10 | NIO | 2 | $44.890 | -8 |
2021-07-09 10:32:04 | NIO | 2 | $44.670 | -6 |
2021-07-09 16:13:20 | NIO | 6 | $45.460 | 0 |
I let this go as soon as this didn't hold PDC (previous day close)... Your entries are boom tho.
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too much commission bro