Started the trade looking to be long as per favorite newsletter
Did not like the action in the stock,looking to short
Shorted 200 shares by the close
INTUITION WAS RIGHT ,minutes later the stock crashed due to private placement
Next day opened large gap down
I traded the day as changing fundamentals
Changed bias midday to buying then selling for a large scalp using tape and chart reading.
Bought some at the close feeling that money will flow in the stock since the share purchase price was announced already next day after the crash.a short term market bounce might help the price after the last few days massive selling.
Risk is limited since the stock has crashed already on huge volume and the selling rate slowed down a lot.
If starts trending up I will go big on the long with tight stops .
Trade review 1 month later
I now know to short the stock below the offer price
And buy above the offerprice
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2018-12-13 10:53:37 | SHOP | sell | $160.710 | short |
2018-12-13 10:53:39 | SHOP | sell | $160.700 | short |
2018-12-13 14:37:51 | SHOP | sell | $159.800 | short |
2018-12-13 15:06:07 | SHOP | buy | $160.630 | short |
2018-12-13 15:38:06 | SHOP | sell | $160.432 | short |
2018-12-14 09:30:40 | SHOP | sell | $146.590 | short |
2018-12-14 09:30:40 | SHOP | sell | $146.518 | short |
2018-12-14 09:30:51 | SHOP | buy | $146.425 | short |
2018-12-14 09:31:02 | SHOP | buy | $146.431 | 0 |
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