Shared by
JamesDover_BOWS
Stock gapped down on bad earnings, shorted the bear flag with low risk. Covered here and there into the rips. This was my best trade so far live. I need to look for more of these types of breakdowns.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-04-12 10:01:09 | HZNP | sell | $14.670 | short |
| 2016-04-12 10:12:19 | HZNP | buy | $14.210 | short |
| 2016-04-12 10:12:41 | HZNP | buy | $14.170 | short |
| 2016-04-12 10:31:37 | HZNP | buy | $13.940 | 0 |
Comments
JamesDover_BOWS
I only halfway followed my reasons to sell list on this one. I covered the first half when I covered my risk. Right after that the second cover was just some sporadic profit taking. And the final cover I waited for a rip into a daily support level. This was my third successful intraday flag breakdown since going Live. I'm trying to figure out how to scan for these.
LPeriman_BOWS
Well, I'm not sure I have a better answer than you on that (actually sure I don't). But, seems you watched this stock because of it's gap down on earnings. To me, the issue was, why not stick with it? If you followed your reasons2exit then why forget about it? Nice pullback on diminishing volume around 11am was a nice re-entry opportunity. I guess I'm saying, sometimes I exit a trade and forget about it, and start looking for new tickers. But, if you have a stock trending, stick with it. Again, not sure if this is applicable for you in this trade, but I'm reminded of that within my trades.
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Really nice entry. Did you follow your reasons2exit? Sometimes, as you sort of said in the community post, you can do better just watching a couple stocks and playing around a core all day.