Shared by
jj_BOWS
Took a larger position than I probably should have for this trade (1500 shares) had my order set to short @ $16.00 and got filled - just watched this breakout fail. Covered some when it fell below $15.45 and the rest when it tested $15.25 and was filled on the up tick's. I'm trying to be more patient with these shorts to give them time to drop. But also know the spreads on this stock were moving quickly. Used Mrkt order to get out.
Q. for review- was there anything else I should have done in this trade?
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-01-15 10:10:55 | NQ | sell | $16.010 | short |
| 2014-01-15 10:10:55 | NQ | sell | $16.010 | short |
| 2014-01-15 10:10:55 | NQ | sell | $16.010 | short |
| 2014-01-15 10:10:55 | NQ | sell | $16.010 | short |
| 2014-01-15 10:10:56 | NQ | sell | $16.010 | short |
| 2014-01-15 10:10:56 | NQ | sell | $16.010 | short |
| 2014-01-15 10:10:57 | NQ | sell | $16.010 | short |
| 2014-01-15 10:10:57 | NQ | sell | $16.010 | short |
| 2014-01-15 10:11:00 | NQ | sell | $16.020 | short |
| 2014-01-15 10:11:00 | NQ | sell | $16.020 | short |
| 2014-01-15 10:11:02 | NQ | sell | $16.010 | short |
| 2014-01-15 10:11:02 | NQ | sell | $16.015 | short |
| 2014-01-15 10:11:02 | NQ | sell | $16.010 | short |
| 2014-01-15 10:11:02 | NQ | sell | $16.010 | short |
| 2014-01-15 10:11:02 | NQ | sell | $16.010 | short |
| 2014-01-15 10:31:16 | NQ | buy | $15.440 | short |
| 2014-01-15 10:31:18 | NQ | buy | $15.410 | short |
| 2014-01-15 10:31:18 | NQ | buy | $15.411 | short |
| 2014-01-15 10:31:18 | NQ | buy | $15.480 | short |
| 2014-01-15 10:33:10 | NQ | buy | $15.259 | short |
| 2014-01-15 10:33:21 | NQ | buy | $15.240 | short |
| 2014-01-15 10:33:21 | NQ | buy | $15.250 | short |
| 2014-01-15 10:33:21 | NQ | buy | $15.270 | 0 |
Comments
jj_BOWS
Agree as I mentioned - it was larger than I should have taken but figured I could always cover right away if it turned against me. I agree w/more than 1000 shares on this it took longer to get filled and also took longer to exit. I'm glad it turned out ok b/c this could have gotten ugly.
lafljm_Bows
Yes, I had a sell limit order for $16.01 and got filled. My sell order was a market order b/c I just wanted to get out quickly. I have always had a short bias for this stock ever since NQ first tanked b/c of the Muddy Waters research & Carson Block who still believes this stock is worth zero. It's on watch for me as the Sprint news may give it some more stability...but this is a very shady stock in my opinion. I would not hold overnight.
** My buy order's to cover the shorts were market order - to get out quickly.
JoJoTrades
lol, this trade was amazingly perfect. too perfect. you're probably not getting too many fans with this one, as there were literally many of the BOWS guys buying at the same place you Shorted huge. then a bunch more bought at the next pop up to under-16.00 test, only to get owned by the drop. you tell anyone else you were Shorting this sucker?
anyway, HUGE CONGRATS on this fantastic trade. I really can't believe your Short got filled at 16.01 lmao, thats crazy. then to watch you hold patiently, with confidence, even up to the near-16 re-test. then you covered it all after the big ass dump. bet this one musta felt good as hell >:D
big size, for sure, as you mentioned...but then again, it was the perfect trade, so big congrats!
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The size was too big. I am not sure about your bank role but 1600 is high with spready unpredictable china name like NQ.