Shared by
iStryker_BOWS
Broke the upward trend line, shorted it.
cover half @ 29.01, then reshorted it 20 minutes later when it was creating a perfect bear flag that would break the 29.00 support, but it didn't.
stock was creating a symmetric triangle. I was like, I want to go long, no i want to go short. Each time I did this I jumped in and I was loosing money. This is exactly what I did yesterday with $SCTY. Finally I said screw it, I'm going for the short, just like what I didn't do for $SCTY. I almost got stopped out on a spike, but I stuck it out. Ended up being a big winner.
I would've cover a quarter @ 28.50 and let the last quarter shares ride, however I was going out so I covered everything @ 28.70
FYI - Kunal went long on sym-triagle.
Reason to short and re-add -
Symmetric triangle -
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-11-15 11:29:11 | YOKU | sell | $29.250 | short |
| 2013-11-15 11:48:46 | YOKU | buy | $29.010 | short |
| 2013-11-15 12:07:15 | YOKU | sell | $28.990 | short |
| 2013-11-15 12:14:34 | YOKU | buy | $29.230 | 0 |
| 2013-11-15 12:15:01 | YOKU | buy | $29.230 | long |
| 2013-11-15 12:21:03 | YOKU | sell | $29.130 | 0 |
| 2013-11-15 12:28:09 | YOKU | sell | $29.130 | short |
| 2013-11-15 13:11:34 | YOKU | buy | $28.800 | short |
| 2013-11-15 13:16:33 | YOKU | buy | $28.700 | 0 |
Comments
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Nice short on that gap up into overhead supply. I like that.