I knew that there was resistance at the 106 level and that it gapped up the day before and was basically flat all day. It was up 7 days in a row and it was overbought. So I shorted into the spike towards 106. My plan was to hold the entire day as long as it kept going lower since in previous days when the stock pulled back it pulled back anywhere from 4 to 8 dollars. This is why I did not take profit after it was down 1.5 dollars, it was not part of my original plan. But the stock was to strong and came back and once it broke the previous days close with some momentum I exited the trade.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2016-12-21 09:32:33 | NVDA | sell | $105.650 | short |
2016-12-21 11:18:35 | NVDA | buy | $105.370 | 0 |
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