NTRI Trade on Oct 29, 2013 09:41 from markmandy54_BOWS: Tradervue User Stock Trades.

Big gap up and was looking for an ORB, Took short with stop -.12, Target +.50 as looked like was starting to roll over. Within minutes i realized this was a terrible trade and exited as it looked like it was flagging. I should be thinking long on gap ups where price holds. I totally missed the long at 17 on that intraday flat top B/O.

Glad i corrected mistake with no emotion, disappointed i didn't take that long.

Execution detail:

Date/time	Symbol	Side	Price	Position
2013-10-29 09:41:44	NTRI	sell	$16.920	short
2013-10-29 09:49:09	NTRI	buy	$16.880	0

#chart1 { background-image:url('/shared/charts/pricechart?symbol=NTRI&trade=663116&end=20131128&i=d&TimeRange=120&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart2 { background-image:url('/shared/charts/pricechart?symbol=NTRI&trade=663116&end=20131029160000&i=m30&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart3 { background-image:url('/shared/charts/pricechart?symbol=NTRI&trade=663116&end=20131029121909&i=m5&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart4 { background-image:url('/shared/charts/pricechart?symbol=NTRI&trade=663116&end=20131029104709&i=m2&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

Comments

NickB_BOWS

2013-10-29 21:59:25

Dont short strength or buy weakness for that matter.. Only institutional pressure will gap a stock like that.
Much easier to be with the tide than aginst.
Mid day rollovers are different, but you will also have a range identified...my .02

daniel_lopez_BOWS

2013-10-29 23:08:28

Mark, there wasn't really much of a set up, it was only one red candle when you shorted. stock was just pulling back/flagging. give it more time to develop.

markmandy54_BOWS

2013-10-29 23:14:50

Totally agree, that's why i got the F out. No real setup.

mb_willoughby

2013-11-03 20:35:57

I have found that on big gappers.. the majority dont fade the first day. its best if you just avoid shorting big gappers first thing in the morning.. not worth it as most of the time, even if they dip.. the dip gets bought up pretty quickly

markmandy54_BOWS

2013-11-03 20:46:40

Totally agree, I gotta memorize that as in review I've done that a few times and it didn't work.

ckz8780

2013-11-04 23:11:10

Agree 100% w/ MB. The trend is your friend.

ckz8780

2013-11-04 23:11:42

Especially considering you're also shorting a gap up on a positive catalyst, which is in a huge daily uptrend, in a bull market!

markmandy54_BOWS

2013-11-04 23:25:04

Total boner trade, my brain even said wait for P/B to get long, dope!!!

NTRI Trade on Oct 29, 2013 09:41 from markmandy54_BOWS: Tradervue User Stock Trades.

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