Shared by
Markmandy54
Although was a gapdown and on radar for short, it gapped into the daily support spot and looked to me like was going to bounce. Took 1/2 position with tight stop and set a limit short below my stop as had the thesis would fall fast. I got stopped for small loss but it fell so quick i didn't get filled on switching short.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-02-13 09:35:11 | CAB | buy | $61.900 | long |
| 2014-02-13 09:35:47 | CAB | sell | $61.320 | 0 |
Comments
EL_BOWS
jmoscate_BOWS
2014-02-13 19:13:11
If it doesn't go in the direction of the gap, I tend to leave it time to see if it will fail to keep going up/down to get an idea. However, if it goes in the direction of the gap, I will jump on it.
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No set-up. I know...i'm one to talk... because i jump in right away as well. More often than not when i do these trades i get burned. I'm trying to give these movers a number of minutes to develop into something first, especially if you're not sure which overall direction it might go (i.e. you had on radar as short but then thought it would be a long). Just a thought brotha'!