3/28/18
WBA
Had earnings, gapped up slightly. Was getting pushed down the entire day until it finally bounced off the $66 level around noontime.
10:25- Shorted 300 shares at $66.40, seeing that the stock retested the consolidation/pivot, and gave my out to above the pivot.
In retrospect, the pullback that I should have waited for provided great risk-reward, and followed the main downward trend line.
11:17- Shorted 300 shares when it broke $66.00, price was $65.92 with a stop at $66.27. This was a bit of FOMO..
11:18- Added 300 shares at $66.10, thinking it was the retest from the rip to resistance. Got stopped at 11:26 at $66.28.
It didn't break $66 by much. A stock that has exaggerated drops most likely will have some pullback especially off of significant levels.
-Mistake was very similar to FB trade Monday, trying to chase the stock when it broke $150.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2018-03-28 10:25:16 | WBA | sell | $66.400 | short |
2018-03-28 10:27:40 | WBA | buy | $66.620 | 0 |
2018-03-28 11:17:38 | WBA | sell | $65.920 | short |
2018-03-28 11:17:38 | WBA | sell | $65.920 | short |
2018-03-28 11:17:38 | WBA | sell | $65.920 | short |
2018-03-28 11:17:38 | WBA | sell | $65.920 | short |
2018-03-28 11:17:38 | WBA | sell | $65.920 | short |
2018-03-28 11:18:45 | WBA | sell | $66.100 | short |
2018-03-28 11:26:40 | WBA | buy | $66.280 | 0 |
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