Shared by
James_BOWSsim
Tried to short the pullback on this one without looking at the daily or seeing that it gapped up. I almost always lose trading google. I think its due to the lack of a good setup and I'm just not used to how this stock trades. Its definitely a strong mover, it was really propping up the market in 2015 when SPX just went sideways.
*Proper play should have been buy the opening dip & sell the rip.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-02-02 09:51:09 | GOOG | sell | $777.500 | short |
| 2016-02-02 09:53:55 | GOOG | sell | $779.610 | short |
| 2016-02-02 10:01:16 | GOOG | buy | $784.990 | 0 |
| 2016-02-02 10:01:43 | GOOG | sell | $784.700 | short |
| 2016-02-02 10:05:30 | GOOG | sell | $784.240 | short |
| 2016-02-02 10:14:29 | GOOG | buy | $781.970 | short |
| 2016-02-02 10:18:28 | GOOG | buy | $781.275 | short |
| 2016-02-02 10:28:40 | GOOG | buy | $784.080 | short |
| 2016-02-02 10:34:52 | GOOG | buy | $784.507 | 0 |
Comments
James_BOWSsim
This is true, I did have more shares than I should have for such a large stock. I think I had 20 shares after scaling in. For such a small acct especially I should be more considerate about that stuff. So a rubberband snapback is one of the more difficult plays to time? If I saw the daily prior I probably would have seen the 1 2 3 type pattern around $780 and been looking to short this two-tapper regardless hahha ironic.
Leave a comment about this trade!
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!
Obviously it didn't work, but I actually agreed with your first entry. GOOG was extended on the daily after gapping up on the 4th day. Intraday, the gap up immediately faded and bounced into the VWAP where you shorted it. Seems like a valid setup to me. This may not be true for you, but sometimes when someone has a difficulty with a higher priced stock they are having too much size. Especially when you're trying to catch the 1st rollover on a rubberband setup. Since the trade's odds are lower, you have to lower your risk accordingly and look to scale in on success. Well.. my opinion, not necessarily fact. :)