This one hurt.
I had 335 written down for a short on the break below. Unfortunately that happened during premarket.
Besides that I had 330, 327 and 316 down for support and 335, 345 and 350 for resistance.
Out of The Open I had a retest of 335 in mind for a short. $NFLX did not make it as it was too weak and being it monday I hesitated at 334ish for a starter as I did not wanted to get trapped. Hence I missed the whole down move. Even with a quarter position of 15 shares a 15 point move is very very decent.
Anyhow. As NFLX sold off I had 320 for support and again hesitated as 316 would be the next support.
I wanted to wait for a higher low and a retest. That didn't quite work out as planned. For a moment I thought we would put in a higher low and went long 322.50. NFLX made an attempt to bounce, but sold off further with the market ($SPY weak) and I wanted to add at 320.
$NFLX hit a low of 320.30 and I did not get filled on the bid. As we then were too close to my first partial, I did not add further with the bounce, but had 325ish in mind as first target. That was reached rather quickly.
THEN I really messed up and I already had a feeling it would play out like this. As I had no profits down for the day and the market was quiet and low volume I did not want to risk much. Not even a selloff to 316 just to get my price down and hustle out.. you get the point.
Hence I took off the trade Break-Even. To the CENT. Then NFLX went for a 12 point move... YAYYYYY!
Again: Case of Monday?
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2018-10-22 10:05:00 | NFLX | buy | $322.520 | long |
2018-10-22 10:13:00 | NFLX | sell | $324.820 | long |
2018-10-22 10:14:00 | NFLX | sell | $324.361 | long |
2018-10-22 10:31:00 | NFLX | sell | $322.520 | 0 |
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