Shared by
jmos_BOWS
Play: Parabolic/orb
Stock was weak, has horrible fundamentals, still extended at those prices, gapped up so wanted green to red. Gap was pretty high up so green to red wasn't really a possibility at the open lol. It opened strong, squeezed due to SSR, shorts who chased yesterday and the gap. Waited for it to run into resistance, initiated a short position with 2cent risk. Mad at myself for taking such a small position, this is where i have to go big with such tiny risk. Was patient as this is a complete turd. Covered small first time, then a bit more at LOD and in the tank as it was extended. Then oil #'s came out and everything was ripping so i covered some more to lock in some in case i got stopped out at buy price. Then was patient on lotto's.
Reasons to cover (will start to use the correct term, was always too lazy but since i mostly short lol): VWAP, LOD/support, extended, lock in gains, eod
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-03-09 09:34:14 | LINE | sell | $1.760 | short |
| 2016-03-09 09:39:47 | LINE | buy | $1.620 | short |
| 2016-03-09 10:06:34 | LINE | buy | $1.560 | short |
| 2016-03-09 10:09:14 | LINE | buy | $1.480 | short |
| 2016-03-09 10:31:37 | LINE | buy | $1.610 | short |
| 2016-03-09 15:57:18 | LINE | buy | $1.580 | 0 |
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