I shorted this just under the $75 whole number expecting a pullback before market close.
I did have a predefined risk of .10 cents and put in a stop order to make sure that I do follow my trade plan.
I was wrong and the stock held up right into close. The small size I used was evidence in how much confidence I had in this trade. I was hoping for a .20 to .40 cent pullback but would have lowered my stop order as it progressed down (if it did).
This type of reversal is a lower probability setup that I should remove entirely from my trading in March.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2016-03-02 15:23:47 | K | sell | $74.950 | short |
2016-03-02 15:29:43 | K | buy | $75.050 | 0 |
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