I missed a couple of potential easy short opportunities because I wasn't awake or at my desk. I didn't even have GME on my radar and was alerted to it by a buddy of mine. I was talking him through his trade as one of my favorite set ups started to happen. I asked him if he was ready to add because I was getting ready to establish my position.
This trade reminds me a lot about my SINA trade I made earlier this week. Being that I didn't add and just covered into weakness. The only thing I did better than my SINA trade was hold more of my shares for the bigger move. I didn't cover as much during moments of consolidation, instead I covered more after it broke out of those consolidation periods. That's probably the only improvement from trade to trade. I tried to get aggressive towards the end giving it another chance, but that didn't work out so I gave back a little gain. That's okay though, I just did a small feeler position and was okay with that.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2013-05-24 11:46:30 | GME | sell | $33.610 | short |
2013-05-24 11:46:30 | GME | sell | $33.620 | short |
2013-05-24 11:46:33 | GME | sell | $33.610 | short |
2013-05-24 13:12:08 | GME | buy | $32.450 | short |
2013-05-24 13:12:08 | GME | buy | $32.450 | short |
2013-05-24 13:12:08 | GME | buy | $32.450 | short |
2013-05-24 13:30:01 | GME | buy | $32.100 | short |
2013-05-24 13:58:23 | GME | buy | $31.235 | short |
2013-05-24 14:25:32 | GME | buy | $31.500 | short |
2013-05-24 14:36:09 | GME | sell | $31.790 | short |
2013-05-24 14:42:03 | GME | buy | $32.110 | 0 |
I usually do 10 to 15 cents above the retracement high so yes.. a little over 34.
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Perfectly executed bounce short. Nice job.