Another One Good Trade. Spotted a big bid setup on AMD at 19.50, given SSR was on from Friday. AMD had a buyer at 19.50, and offers began to stack at 19.51. I hit the bid with a stop at 19.52. I took partials once the sellers stopped stepping down (once the offer lifted on the L2 instead of lowering) and a retracement seemed imminent given the elevated volume. I took 3/4 of the position off and put the stop for the rest at my original stop of 19.52. I was stopped out of the rest at 19.53. I did not consider flipping long, but I should have since this has historically been an alternative setup after a big bid level has reclaimed.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2018-12-10 11:03:04 | AMD | sell | $19.500 | short |
2018-12-10 11:04:21 | AMD | buy | $19.340 | short |
2018-12-10 11:04:34 | AMD | buy | $19.360 | short |
2018-12-10 11:14:17 | AMD | buy | $19.530 | 0 |
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