Thought this was in play because of downgrades from 2 analysts. It showed a nice move at the open with a strong bounce into a fade below VWAP. I knew this would be an intraday swing because of the price action but thought the fade would continue to the end of day and possibly finish low of day if the market turned negative which it did.
The trade didn't work out because my initial position was 10 cents below VWAP and it bounced above VWAP a couple of times in the afternoon. If I wanted another for the 25 cent up move above VWAP I could have had a nice short position into the finish at the end of day.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2016-04-11 11:41:00 | QLIK | sell | $27.950 | short |
2016-04-11 15:58:00 | QLIK | buy | $28.050 | short |
2016-04-11 15:58:00 | QLIK | buy | $28.050 | short |
2016-04-11 15:58:00 | QLIK | buy | $28.050 | 0 |
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