Shared by
tsun
2nd trade
After seeing how 47 bids were not holding, I began to short once it began to crack under. I kept starting with bigger sizes which added up. I kinda hoped and was convinced that this must be the final crack of 47
I need to realize and recognize the failed breakout or breakdowns and use this as confirmation to play the other side. And if it does not seem to break down or break out, I should not add more shares JUST because it HAS to break down or out. It does NOT have to. So do not use larger sizes UNTIL THE BREAK IS CONFIRMED, in this case which is below 46.5
I covered once 47 held and began to go the other way. A good thing I did was simply to just cover and not re-add, realizing that I was wrong.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-02-02 10:19:23 | KORS | sell | $46.870 | short |
| 2016-02-02 10:20:13 | KORS | sell | $46.920 | short |
| 2016-02-02 10:20:17 | KORS | sell | $46.970 | short |
| 2016-02-02 10:20:21 | KORS | sell | $47.010 | short |
| 2016-02-02 10:20:38 | KORS | sell | $46.960 | short |
| 2016-02-02 10:20:58 | KORS | sell | $46.980 | short |
| 2016-02-02 10:21:05 | KORS | sell | $46.970 | short |
| 2016-02-02 10:21:20 | KORS | sell | $46.970 | short |
| 2016-02-02 10:27:37 | KORS | buy | $47.280 | 0 |
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