This stock looked like it was about to break down on the daily. It didn't gap at all though. I was looking for a quick pullback short. Got in short once it tested the 9EMA and couldn't pierce it. Put my stop above at $31. It couldn't hold above the 20 EMA and then started to go. I scaled out in roughly halves and kept a 10 share lotto. Then I realized this stock only has like a $3 range all day.
I've learned that I don't almost always mis-play these $20-50 stocks. This one happened to work out, but I got excited and sold the lotto once it hit the lowest candle of the day. That area should have infact been my first scale-out point.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2016-02-04 09:45:28 | ERY | sell | $30.400 | short |
2016-02-04 09:49:33 | ERY | sell | $30.070 | short |
2016-02-04 09:49:33 | ERY | sell | $30.070 | short |
2016-02-04 10:09:46 | ERY | buy | $29.950 | short |
2016-02-04 10:13:55 | ERY | buy | $29.750 | short |
2016-02-04 10:16:21 | ERY | buy | $29.550 | 0 |
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