I don't know what it is but I knew that AMZN was going to trend down immediately at the open but I did not take advantage of this, it may be due to lack of experience or hesitation but I missed a good short opportunity in the open. However, I have learned that most stocks once it hits its highs or lows for the day that it will eventually pullback up or down (at least what I've seen). So, this setup I used on AMZN is almost like a mini rubber band oversold pullback bounce. I waited for a pullback bounce from its lows (535) and when it went green I bought @ 535.06, covered 1/2 @ 536.05 and sold the rest @ 536.92.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2016-02-24 06:55:08 | AMZN | buy | $535.060 | long |
2016-02-24 06:59:13 | AMZN | sell | $536.050 | long |
2016-02-24 07:02:14 | AMZN | sell | $536.920 | 0 |
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