Shared by
Emilie_BOWS
Daily: earnings break down
Intraday:
- 1st entry on the break below pre-market low right out of the gate, stop 11.8
- 2nd entry on bear flag close to VWAP
- 3rd entry on the break below $11
It didn't bounce much after the break under $11 which made it difficult to add because of SSR. I held on to my shares because it would be difficult to add back and covered near $10.5 and EOD.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2017-05-02 09:30:16 | AMD | sell | $11.660 | short |
| 2017-05-02 09:47:17 | AMD | buy | $11.010 | short |
| 2017-05-02 11:05:16 | AMD | sell | $11.270 | short |
| 2017-05-02 11:06:02 | AMD | sell | $11.220 | short |
| 2017-05-02 13:15:01 | AMD | sell | $10.960 | short |
| 2017-05-02 14:26:05 | AMD | buy | $10.540 | short |
| 2017-05-02 14:59:37 | AMD | buy | $10.490 | short |
| 2017-05-02 15:49:05 | AMD | buy | $10.340 | 0 |
Comments
Emilie_BOWS
I don't really know what the "biggest reason" was. I always look at both daily and intraday to decide whether to trade a stock. Both must be compelling. This one broke support on daily with a big gap down on earnings. Pre-market had huge volume and stock kept moving down. All these factors told me that it would likely be a good short.
I don't use crossing VWAP as a trigger at the open. I also don't take off pre-market trading hours during the day.
I use Interactive Brokers. What you mentioned about SSR stocks is interesting. I've never heard of that. I've never paid attention to a specific route (I think I always use "smart routing" on my platform). I'd love to look into that if you can tell me the route.
VinnyB
So this is a dark pool that tends to have hidden liquidity on SSR stocks. I would suggest making this a separate hotkey for SSR stocks only. It will only check this specific route for shares otherwise you won't fill. It works more often than not though but if not you can just put a regular order as well.
Destination: PDQ
Routing: CBSX
TomB_BOWS
Very nice entry on bear flag and being patient. I took the same trade but used a 1 min chart to get the first pullback.
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What was the biggest reason you thought that this would be a good short? Was it because it broke that main level of support on the daily? Is there any other criteria for taking a trade like this? Would you use something like it crossing back under vwap as a trigger as well for right at the open?
Also, do you take off premarket trading hours so it doesn't show? I ask because vwap is different with and without premarket included.
Also, I'm not sure what broker you use but there is a way to hit the bid or at least find hidden dark pool liquidity on SSR stocks so you can just get in. I forget the route you can use but I can check tomorrow for you, if you want.