2/1/17: $OKS was a big gapper on positive news about a merger deal. Around the $46 area was resistance on the daily chart and this stock gapped up to almost $60 in premarket so my thought was that if it starts looking weak and cant hold VWAP then it has alot of room downward for a correction. You gota think when a stock gaps up like this there is going to be a lot of people who have been holding this for a while that are guna want to take profits and sell their positions creating a surge in supply....and we all remember from econ class what happens when supply>demand = price decreases. My first entry was right below VWAP at 56.32. Sold half of my position at 55.60 and the other half at 55.15. Kept my eye on this and it kept selling off so entered short again at 55.21 and took first half off at 54.77 and the second half off at 53.75. Awesome trade here and good risk management on my part!
2/3/17: $CY had news about missing their 4th qtr earning estimates, but it still made for a decent long trade. You know never know what these stocks are going to do..sometimes they have positive news and they tank and sometimes they have negative news and they skyrocket. My job is to plan for the most likely scenario based on the chart and react to price action, not try to guess which way the stock is gunna go. Anyways, 12.50s was resistance on the daily chart so when I saw the stock shoot up to 12.90s in the first few minutes of the open I planned to wait for a pull back near 12.50s for an entry. Once 12.60s held I got in long at 12.69. Sold half of the position at 12.90 to secure some profit and got stopped out of the rest at 12.75. Second trade had no follow through. I got short once it broke below VWAP but stopped out pretty much right away.
