Shared by
chrisconnelly3
watched the vol pattern closely.. each prev stairstep spike was accompanied by expanding volume.. except for the push over 16 where i shorted... the buy vol was lacking since at that point it was just shorts covering for a loss as no more longs were foolish enough to buy up that high,,, then got a decent couple cracks to cover into.. nice little trade.. but it became quickly crowded to the short side and squeezed quite nicely. should have looked to flip the position, as this thing had all day momo
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-12-01 13:27:50 | ATV | sell | $16.215 | short |
| 2015-12-01 13:44:25 | ATV | buy | $14.200 | short |
| 2015-12-01 14:00:47 | ATV | buy | $12.735 | short |
| 2015-12-01 14:50:52 | ATV | buy | $15.675 | 0 |
Comments
chrisconnelly3
Thanks Andy! price, vol, and a little level II is all you need really! in the case of shorts what i look for for covers is panic selling- large red candles in relation to previous price action candles, and larger than average intraday vol on the crack too.. if you notice on the dip on my middle cover the selling vol wasnt that strong, hence the rally back up after that attempted crack.. i should have been more cautious after seeing that and started to look to cover my full position shortly thereafter instead of giving it the room i did
andylam
Hm, great tip on looking for larger than avg vol on the cracks. Those types of cracks gives a better confirmation to the downside. Makes sense. Thanks!
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Looks to be a great short followed by great covers.
What kind of things do you look at when you exit your positions?
I am currently only using price, volume, level II, and Time and Sales.