Grade=C-
P/L: +0.3R
Entry: Went short on a tiny bounce after the stock gapped down after a huge day the day before.
Result: The stock didn't move much and I got cold feet after about 15m and I was looking for an exit where I could have my commissions covered and not have this day affect me or my P/L negatively.
Lesson: This stock was really slow-moving and had a 1B share float. I've seen how these stocks react to news before. There are times when they will trend up or down all day, but often they will quickly find their level without much movement after the open and just sit there until the early afternoon when institutions might make a decision either way on the valuation and execute on their ideas. I need to be mindful of the float and this will help me decide more quickly.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-10-28 09:52:31 | RAD | sell | $8.000 | short |
2015-10-28 10:10:43 | RAD | buy | $7.970 | 0 |
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