PHUN Trade on Feb 7, 2022 08:37 from BanalityOfEvil: Tradervue User Stock Trades.


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Premarket Breaking News core builder trade 2 hold

AUSTIN, Texas, Feb. 07, 2022 (GLOBE NEWSWIRE) -- Phunware, Inc. (NASDAQ:PHUN) (the "Company"), a fully-integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands

Big Picture
In sympathy with DWAC,CFVI, heavy algo presence on the open, former MOMO stock.

News was beneficial, RVOL 9x, float a little high 80M, spy testing 450 (bullish), ATR .29ct, VIX around 23. Heavy algo presence on the open I knew I would have to give it a lot of room.

Main price target is 3.30, max target for runner is 3.80


Was not sitting at desk when the news broke, sat back down and saw this was gapping

Bought the 1st real pullback in premarket @8:30

could have been a little quicker with my add on the open.

Added into the 3rd opening 1min candle, faked out but held due to confidence that the algos would hold the stock up, since I have noticed that this has been a trend in low float gappers since the market started distributing in October 2021.

Very choppy, grinding action, all day... took 10 tries to get over $3.15. Held all day for as long as I could before reason to sell. Could have justifiably sold final lot @3pm @ $3.20. Tape looked different, but wanted to give it room as dark pool HFT volume on FADF Exchange was controlling the stock, which will typically trend in a very choppy manner.

Key Takeaways

When the tape shows HFT algo domination, the stock will chop sideways, attempting to shake out all the weak hands... if there is support on the open, and it breaks above a premarket pivot, then give it plenty of room.

Need to get a good price if planning to hold.

Most low float leading gappers are also volume leaders into the open, understandably. However, the algos eat these things up right on the bell. The HFT's benefit from the huge liquidity in these symbols.

Until market confirms strength, (holds 450 for a week), consider avoiding the low float gappers on the opening print. Watch the tape and look for buyers to hold and step up.


Execution detail:

Date/time Symbol Side Price Position
2022-02-07 08:37:33 PHUN buy $3.060 long
2022-02-07 08:37:40 PHUN buy $3.065 long
2022-02-07 08:37:40 PHUN buy $3.065 long
2022-02-07 08:41:23 PHUN buy $3.020 long
2022-02-07 08:45:12 PHUN buy $3.080 long
2022-02-07 09:17:03 PHUN buy $3.080 long
2022-02-07 09:35:37 PHUN buy $3.030 long
2022-02-07 13:05:16 PHUN sell $3.170 long
2022-02-07 14:48:10 PHUN sell $3.382 long
2022-02-07 15:33:28 PHUN sell $3.042 0

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