Shared by
JamesDover_BOWS
Watching to short this pullback on a Green-to-red move with this overbought oil stock. Got in a little before it went red, and I had slightly more size than I felt comfortable risking (given how extended it was getting. So I covered half my shares near my buy price to limit my exposure. On this one I didn't want to adjust my risk like I did on WLL because that would invalidate my thesis.
Once it took off I scaled out into the spikes. It was hesitating at previous day's support, so that's where I covered the remainder. Later it randomly faded at lunchtime, but that was kind of hard to predict since I don't really trade around lunch.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-04-29 09:44:49 | ETE | sell | $12.730 | short |
| 2016-04-29 09:49:41 | ETE | buy | $12.770 | short |
| 2016-04-29 09:51:58 | ETE | buy | $12.610 | short |
| 2016-04-29 10:00:16 | ETE | buy | $12.550 | short |
| 2016-04-29 10:00:51 | ETE | buy | $12.520 | 0 |
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