Shared by
iStryker_BOWS
Continuation short. This play took a little bit longer to develop (G/R).
Short 1k @ 48.19. Stop above VWAP 48.44. Then later move to 9ema which it just broke. Max Lost $250.
Cover the rest, done for the day
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-12-23 09:57:54 | KMX | sell | $48.180 | short |
| 2013-12-23 11:23:56 | KMX | buy | $47.880 | short |
| 2013-12-23 11:27:23 | KMX | buy | $47.830 | 0 |
Comments
iStryker_BOWS
@Mick I use the 5 minute chart, 9ema. I shorted it just below it.
I do not feel lucky that this trade worked out for me. It was a G/R and a continuation short. Continuation shorts (that are gap down plays) tend to keep traveling down (some don't but more do).
My only worry was a bounce @ 48.08ish, the previous close. Some stocks gap fill then rip. And even it I did, I had some wiggle room, as I would've seen the bounce coming as my entry was 10 points above it.
(oh and FYI - some stock gap down, fill the gap up, the fail)
markmandy54_BOWS
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you really chased this one and shorted right on top of the EMA. In your opinion do you feel it was pure luck that this trade worked more than anything else?