Shared by
boldandnuts
Anticipating a crack on $YELP after Earnings
Yelp was weak and sold off hard after Earnings and I was aiming for a continuation of that move. For whatever reason.
My levels for support were 29 and 27 as target. REsistance during premarket at 30.60 and Gap 32.75.
I expected a relief move into 30.60 resistance and placed some orders in that area. YELP tested that, I got filled and took off half just before I thought it would crack.
Long story short, $YELP bounced and my average was AT VWAP and I eventually took off the trade break even eventually. Worth a try and well managed.
However, it was badly traded as I did not watch the tape close enough as I had too many candidates on my watchlist for friday. FOMO at its best.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2018-11-09 09:30:00 | YELP | sell | $29.770 | short |
| 2018-11-09 09:31:00 | YELP | sell | $30.400 | short |
| 2018-11-09 09:32:00 | YELP | buy | $29.460 | short |
| 2018-11-09 09:39:00 | YELP | sell | $30.520 | short |
| 2018-11-09 09:44:00 | YELP | sell | $31.310 | short |
| 2018-11-09 09:55:00 | YELP | sell | $31.840 | short |
| 2018-11-09 10:10:00 | YELP | buy | $31.170 | short |
| 2018-11-09 10:13:00 | YELP | buy | $30.850 | short |
| 2018-11-09 10:26:00 | YELP | buy | $31.110 | short |
| 2018-11-09 10:27:00 | YELP | buy | $31.100 | 0 |
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