This was a total goof of a play, thought I had cancelled my order to short, but it had already executed, so I shorted more than I had wanted to.
Idea was that the gap up was going to fade--especially in China names... Unfortunately I tried several names, JD, JKS, WB, BABA, this one was the only that I could borrow, and it was the slowest mover.
Was watching the 2 min chart, and the green candle at the open immediately got washed out so play an ORB to the downside. Stop right around VWAP area, and the top of the 3 2-min candle, $54.45ish. Target was 53.50 or lower--hoping for a big fade.
When the market didn't flush, I covered at a old support level that held most of the day.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-08-25 09:34:04 | QIHU | sell | $54.200 | short |
2015-08-25 09:35:31 | QIHU | sell | $54.020 | short |
2015-08-25 10:37:04 | QIHU | buy | $53.550 | short |
2015-08-25 12:34:30 | QIHU | buy | $54.050 | 0 |
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