Shared by
JamesDover_BOWS
A major shareholder dumped their shares b/c they thought a drug approval was unlikely. Sent the stock tanking the previous day. Looking for a G/R move but it didn't materialize. Caught it on the bear flag, and had to cover immediately because my platform was giving me problems with cancelling orders. Liquidated this thing at market, and good thing I did too. Not great r:r since it had lots of support underneath.. but high probability bear flag there.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-06-03 10:11:32 | SRPT | sell | $15.910 | short |
| 2016-06-03 10:23:09 | SRPT | buy | $15.690 | 0 |
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