You got back into DRYS for a 1-minute sideways consolidation breakout to test high of day, but the stock felt very heavy with selling on the Level II.
You knew at the time that if a stock does not move immediately within 1 minute upon entry, you tend to lose money, so you stopped out. The stock ended up dropping.
Closed the trade for a $12.65 loss, last trade of the day.
My plan post-market was to see how the SPY traded. I wanted to see it trade near the previous day's high in pre-market. In my notes, at around 1:35 PM EST, the SPY daily candle showed a test of the 50 ema and is a small, green inverted topping tail. I wanted to see it break above that moving average or else I would have thought about trading the TVIX again otherwise.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2018-02-07 09:58:42 | DRYS | buy | $3.640 | long |
2018-02-07 09:59:31 | DRYS | sell | $3.650 | 0 |
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