Shared by
jmos_BOWS
Play: Bear flag
It was bear flagging right above the VWAP, once it broke it, got in. I got stopped out as it was reversing. I was playing the flush so had a fairly tight stop. It looked good for the flush.
Any reason why it didn't go?
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-05-12 13:30:15 | KNDI | sell | $13.220 | short |
| 2014-05-12 13:31:49 | KNDI | buy | $13.450 | 0 |
Comments
Sayed
Not really a bear flag. Stock had a big morning run after earning and it was tired. Does not really signals a short.
jmos_BOWS
thanks! That is true, it had a very strong morning and the SPY was being strong all day. Should have been thinking long instead of short.
@Sayed, what would you consider a short signal? It was making lower highs and then a lower low and consolidated right above the VWAP. thanks!
Sayed
If the stock had ran for days before earning or junk bio gapped up on PR news.
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I think you played it as well as you could have as a short. In my mind, this was not shortable (other than a scalp) today. It is a former momo runner that has been hit hard with the market pullback over the last few months. It may break down in the coming days or weeks, but it had a very bullish push this morning. Could have been a bit of a short squeeze coming into play. Also when you shorted, the SPY was continuing it's day-long rip to all time highs. My scans tonight show 396 stocks up 4%+, and only 31 down 4%. Just not a day conducive to shorting I think!