Shared by
johnc_BOWS
I've felt like this has been due for a pullback for a while now. It has had overbought stochastics for 2 weeks now and outside of BB. I missed a decent scalp bear flag in the morning, but I didn't start trading until 1:30 today, so whatever.
Didn't move very much at all. Historically, this stock can move as much as $1 on a pullback so I'm gonna keep watching this.
2/9: I'm still not sure how much of an edge it gives me in the long run. Will keep playing double tap failures like this because fuck it. I didn't respect my stop here at .75, which made this a Type 3 trade.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-12-19 14:04:51 | MGM | sell | $22.680 | short |
| 2013-12-19 14:04:52 | MGM | sell | $22.680 | short |
| 2013-12-19 14:04:52 | MGM | sell | $22.680 | short |
| 2013-12-19 14:04:52 | MGM | sell | $22.680 | short |
| 2013-12-19 14:04:52 | MGM | sell | $22.680 | short |
| 2013-12-19 14:04:52 | MGM | sell | $22.680 | short |
| 2013-12-19 14:04:52 | MGM | sell | $22.680 | short |
| 2013-12-19 14:40:28 | MGM | buy | $22.680 | 0 |
Comments
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Like your thought process as looks like wants to come back to 21. worth a swing attempt.