Shared by
EL_BOWS
QUESTION: Can somebody please explain to me what is going on here? I have been crushed by this same move on too many occasions, and I don't get it: Look at the end of day "dead-cat-bounce" short that I did at 2:40pm. Big red candles breaking down. One tiny volume green candle pulls back to the high of the last big red -- I'm thinking "tiiiiny volume, not sustainable," so I re-short. Then it continues for NINE consecutive candles, on tiny green volume (so the whole time I'm thinking "no volume coming in, it has to reverse..."). WHAT is this?
Had I not done this short and let it ride out, I would've been very very green on this instead of a little green. First plays in this were excellent. FTBD + cover. Reshort at high on the dead-cat-bounce, cover into spikes. The last short attempt ruined it for me.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-03-21 13:32:26 | SFUN | sell | $74.970 | short |
| 2014-03-21 13:43:24 | SFUN | buy | $74.570 | short |
| 2014-03-21 13:53:09 | SFUN | sell | $74.920 | short |
| 2014-03-21 13:58:55 | SFUN | buy | $74.510 | short |
| 2014-03-21 14:21:21 | SFUN | buy | $74.000 | short |
| 2014-03-21 14:31:22 | SFUN | buy | $73.780 | short |
| 2014-03-21 14:38:02 | SFUN | sell | $73.870 | short |
| 2014-03-21 15:02:12 | SFUN | buy | $74.510 | short |
| 2014-03-21 15:26:53 | SFUN | buy | $75.010 | 0 |
Comments
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Well the stock is oversold on the daily chart, so at that point you will have buyers coming. It already flush from $80 to $74, so you have to consider where it came from.