I felt it was a short candidate under $4.00. I entered short at $3.83 with 1500 shares. The trade started to go against me and I opened a second window to go long as soon as I covered the short at $3.97. I went long with 1500 shares at $3.98 and second order of 1500 shares at 3.99. That's where things got dicey and the drop began but I was committed. I know from experience with volatile plays like AXON there are unfilled orders waiting. I watched time and sale and each time a large block of buyers came in I had another order ready. I took another 1500 at $3.70 but the selling wasn't exhausted yet. I waited again and added another 1500 at $3.61 bring my average to $3.80. It was at $3.61 that the selling exhausted and the buyers flooded in. I set my sell order @ 3.93 and picked up a spiritual book with mystical powers that I keep on my desk. At that point, I was down $2K. When I looked up from the book 15 minutes later I had closed out with a $439.24 profit. The lesson here is have faith and trust in the process.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2018-06-06 11:29:32 | AXON | buy | $3.982 | long |
2018-06-06 11:29:32 | AXON | buy | $3.982 | long |
2018-06-06 11:29:32 | AXON | buy | $3.982 | long |
2018-06-06 11:39:46 | AXON | buy | $3.990 | long |
2018-06-06 11:39:46 | AXON | buy | $3.990 | long |
2018-06-06 11:47:01 | AXON | buy | $3.935 | long |
2018-06-06 12:05:49 | AXON | buy | $3.709 | long |
2018-06-06 12:05:49 | AXON | buy | $3.702 | long |
2018-06-06 12:05:49 | AXON | buy | $3.702 | long |
2018-06-06 12:30:46 | AXON | buy | $3.615 | long |
2018-06-06 12:45:50 | AXON | sell | $3.930 | long |
2018-06-06 12:46:56 | AXON | sell | $3.930 | long |
2018-06-06 12:46:56 | AXON | sell | $3.930 | 0 |
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