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Nov 9, 2018 09:30


Good Exit Fakeout Early Entry Bad Entry Bad

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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