Shared by
spyrosz
Fast & furious sell-off into major long-term support level=huge previous resistance level that served as ATHs (2018-2020)=door to post-vaccine gap-up&go=$169.
Taking also into account:
a) the velocity of the current sell-off (5th consecutive week down, similar for SPY, Qs, DIAs)
b) SPY and DIA approaching AVWAP from COVID lows
I was leaning extremely bullish into the day...
Opening flush to $169 got bought to the penny and had a quick/sharp move away from price. Gave confidence that the level is being respected, so
-- Got long 0.5xTier 0 at the 1st pullback after $169 pop, risking a bit less than 1xATR=$6.5 below the level $164s
-- Added full Tier 0 as market provided a 2nd chance to buy $169-170 later in the afternoon, risking same stop
-- Expecting buyers to appear and push it higher quickly and decisively here...
-- 1st target 9SMA@daily
05-20-2022
Stop below $175 kicked in. Nasty reversal last 30mins, left w/o position here.
Need to re-evaluate.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2022-05-12 09:52:43 | IWM | buy | $170.509 | long |
| 2022-05-12 13:46:28 | IWM | buy | $170.127 | long |
| 2022-05-12 13:53:39 | IWM | buy | $169.810 | long |
| 2022-05-12 15:17:41 | IWM | buy | $170.146 | long |
| 2022-05-13 09:02:31 | IWM | sell | $175.170 | long |
| 2022-05-13 10:22:04 | IWM | sell | $177.200 | long |
| 2022-05-13 10:32:19 | IWM | sell | $177.850 | long |
| 2022-05-13 12:11:49 | IWM | sell | $179.125 | long |
| 2022-05-16 10:26:37 | IWM | sell | $178.700 | long |
| 2022-05-19 09:32:31 | IWM | sell | $176.105 | long |
| 2022-05-20 11:02:52 | IWM | sell | $174.445 | 0 |
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