Premarket gapper showing weakness and not being able to hold its highs, could not break above the 9EMA.
1st trade
Shorted on the opening flag breakdown, flushed a bit and then bounced. I held it since it never got to my stop loss and it could not break above the HOD.
2nd trade
Added to my short position on the flag breakdown but again the same thing, bounce came in instead of the expected flush.
3rd trade
Once the stock consolidated and settled under the EMAs I added a bit more to my position.
Covered all the shares once the flush did not come and the stock started bounce over the MAs.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-04-28 09:40:17 | SOHU | sell | $54.000 | short |
2014-04-28 10:04:00 | SOHU | sell | $54.030 | short |
2014-04-28 11:00:58 | SOHU | sell | $54.050 | short |
2014-04-28 11:00:59 | SOHU | sell | $54.000 | short |
2014-04-28 11:33:22 | SOHU | buy | $54.200 | short |
2014-04-28 11:33:33 | SOHU | buy | $54.080 | short |
2014-04-28 11:33:33 | SOHU | buy | $53.990 | 0 |
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