Shared by
johnc_BOWS
Shorted on pullback to resistance and apparent bear flag. I knew it would run into resistance near that last bear flag. Prodigio automatically changes your orders into Buy orders when you go to Limit, so I sent the wrong order on that first area. I re-entered when I realized my mistake.
In retrospect, I was oversized and my stop was too tight. I set a stop just above the base that had formed (only 2 candles so it wasn't very strong. Also, it was in accumulation when I took it. Shorted again on bear flag when the red candle looked strong and good selling volume came in. Stop above 9ema. Set my final target at the 50dma. Got stopped out.
(3rd entry) Re-shorted again when it ran into resistance at 78.50. SPX was bear flagging here. Set stop at 78.52. Exited because it looks like it's flagging and accumulation. In retrospect, this was a bad entry because it was in accumulation and very extended.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-10-08 11:27:19 | QIHU | sell | $80.256 | short |
| 2013-10-08 11:27:30 | QIHU | sell | $80.235 | short |
| 2013-10-08 11:27:36 | QIHU | sell | $80.235 | short |
| 2013-10-08 11:28:55 | QIHU | buy | $80.630 | short |
| 2013-10-08 11:28:56 | QIHU | buy | $80.630 | 0 |
| 2013-10-08 11:30:54 | QIHU | sell | $80.200 | short |
| 2013-10-08 11:39:16 | QIHU | buy | $79.000 | short |
| 2013-10-08 11:46:58 | QIHU | buy | $78.360 | 0 |
| 2013-10-08 12:52:31 | QIHU | sell | $77.930 | short |
| 2013-10-08 12:52:31 | QIHU | sell | $77.930 | short |
| 2013-10-08 12:57:10 | QIHU | buy | $78.191 | 0 |
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