UEPS Trade on Nov 29, 2013 09:32 from iStryker_BOWS: Tradervue User Stock Trades.

P&L +295. Short 1000 @ 7.92. Stop 8.02 Target 7.40ish (daily support). Nailed it as it couldn't break and hold over 8.

Readded quarter when it pop up thinking it would continue to fade. It didn't.

Couldve easily short another 1k as this would increase my max lost to $200 (my max)

Execution detail:

Date/time	Symbol	Side	Price	Position
2013-11-29 09:32:33	UEPS	sell	$7.920	short
2013-11-29 09:36:04	UEPS	buy	$7.600	short
2013-11-29 09:42:13	UEPS	buy	$7.380	short
2013-11-29 09:55:02	UEPS	sell	$7.780	short
2013-11-29 09:59:52	UEPS	buy	$7.850	0

#chart1 { background-image:url('/shared/charts/pricechart?symbol=UEPS&trade=732114&end=20131229&i=d&TimeRange=120&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart2 { background-image:url('/shared/charts/pricechart?symbol=UEPS&trade=732114&end=20131129160000&i=m15&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart3 { background-image:url('/shared/charts/pricechart?symbol=UEPS&trade=732114&end=20131129121952&i=m5&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart4 { background-image:url('/shared/charts/pricechart?symbol=UEPS&trade=732114&end=20131129102052&i=m1&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

Comments

markmandy54_BOWS

2013-11-29 17:46:01

Nice conviction short. It seems when i short that early it rips or vice versa. What gives you that conviction?

mirko_BOWS

2013-11-29 17:55:30

My question exactly. What gives you enough conviction on the first and single candle to short? Because it gapped down so much under major support on good volume?

iStryker_BOWS

2013-11-29 18:31:15

Mirko good question. So premarket it went down to 7.21, pass its 7.40 support (daily chart of 7.40 support - http://scharts.co/1bvUhtH)., so that was a good sign. 8.00 is a good mental number. It popped over, but couldn't hold. I saw 7.92 on the bid, so I took it, thinking hey if it pops over 8.00 again, i'm out.

At first i was going to play it safe. I was going to cover 1/2 @ 7.75-7.80, so if it went to 8.10ish it would be a wash trade, but it kept falling so fast, i was able to cover lower, and then it kept tanking to my target

mirko_BOWS

2013-11-30 08:21:23

Thanks for the additional explanation and reasoning Tyler, much appreciated!

Really really nice short and trade in general, a bit risky but makes sense since you have limited your risk!

UEPS Trade on Nov 29, 2013 09:32 from iStryker_BOWS: Tradervue User Stock Trades.

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