Shared by
tsun
Breaking news: Dealreporter saying that $EXC Exelon considering walking away from Pepco acquisition.
After this rumor came out, I bought small shares into weakness and sold for a quick profit.
Ideally I would look for an emotional play looking to short into the resistance around 26s where it had been consolidating during the day. Specifically, around 26.35 and 26.4 as my ultimate risk/guide.
I scaled into a short using small positions into the strength, all the way into 26.4s. When it started to flush, I had a limit order to sell half slightly above 26 at 26.8. I then scaled out of my position into the weakness as it approached 26.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-02-09 15:47:34 | POM | buy | $25.960 | long |
| 2016-02-09 15:47:54 | POM | sell | $26.060 | 0 |
| 2016-02-09 15:49:35 | POM | sell | $26.140 | short |
| 2016-02-09 15:49:53 | POM | sell | $26.120 | short |
| 2016-02-09 15:50:08 | POM | sell | $26.160 | short |
| 2016-02-09 15:50:19 | POM | sell | $26.220 | short |
| 2016-02-09 15:50:44 | POM | sell | $26.250 | short |
| 2016-02-09 15:50:55 | POM | sell | $26.250 | short |
| 2016-02-09 15:52:14 | POM | sell | $26.390 | short |
| 2016-02-09 15:53:02 | POM | sell | $26.330 | short |
| 2016-02-09 15:54:22 | POM | buy | $26.180 | short |
| 2016-02-09 15:54:30 | POM | buy | $26.140 | short |
| 2016-02-09 15:54:30 | POM | buy | $26.140 | short |
| 2016-02-09 15:55:15 | POM | buy | $26.130 | short |
| 2016-02-09 15:55:16 | POM | buy | $26.110 | short |
| 2016-02-09 15:55:18 | POM | buy | $26.080 | 0 |
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