Took position at EOD as it was closing strong. Risk was a gap down. Goal was to sell into gap up. Thesis was that it likely would gap up, because of strong momentum, nice 52-week breakout and a recent catalyst. Took position despite some warrants and an ATM, but figured they would probably not touch the stock outside real-time hours. Also, the ticker has had both ATM and warrants outstanding all the time as it has run previously. Got a nice gap up, and locked profits in two chunks.
Lesson 1: Continue to trade when most indicators add up.
Lesson 2: Continue to go for singles, as they add up over time.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2018-01-22 15:59:58 | SRNE | buy | $7.750 | long |
2018-01-23 07:17:14 | SRNE | sell | $8.000 | long |
2018-01-23 08:03:43 | SRNE | sell | $8.150 | 0 |
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