I shorted NWL, this has gapped down today. I'm getting better at reading these "gap down stocks" I'm adding more size to this play. I was correct in my read on this trade, I read the tape correctly and I saw the the bid could not get and hold above 45.01. I got short at this level. The stock had buyers at the .74 level when this level was taken out I should've added since this level would act as resistance. But I didn't want to chance the stock coming back on me.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2017-02-06 09:33:14 | NWL | sell | $45.010 | short |
2017-02-06 09:50:08 | NWL | buy | $44.430 | 0 |
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