Daily: Rubberband short
Intraday: Break of support
Gain: +$156 (+4.0%)
Shares: 500
Stop: $7.93
Picked up stock during lunchtime b/o scan. Was a rubberband short on the daily chart and had a big run-up in the morning. Was watching stock for weakness and shorted it when it rolled over and the 9EMA failed to hold support. Shorted 500 shares with 6 cts risk and intended to short another 500 shares when I had confirmation of the play. Stock popped down fast and I couldn't catch it for the second short so I left my position at 500 shares. Scaled out when stock hit the VWAP, which was also a suppoprt area on the 5-min chart. Scaled out again o the flush that followed. Stock was exttremely volatile in the flush so I put in limit orders to cover my position.
Execution detail:
Damn. Great trade
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Great job!