ASNA was a tricky stock, I chose it because I actually wanted to see it go UP after the open and then look for a short but it chose to break down a bit. Decided to short ASNA by examining the 1 min and 2 min candles and it seemed decent but I still didn't like the feel of it. The stock did go down in my favour but then decided to shoot up extremely fast, therefore I had to close out the position and take the loss. It was a weird stock and the gap was too large.
Trade 2 - YHOO
YHOO - Beautiful play, it is rare to see setups so nice and clean like YHOO today, gapped down but climbed back up to yesterdays close and that is where the short was taken. Simple, clean and easy play. I did not go heavy in on the shares for YHOO because I took a small loss on the first trade, my main goal was to make up for the loss. Which I did.
Trade 3 - TIF
TIF - If you look at the charts for TIF and YHOO the two on the left the setups are the same, but TIF bounced around in a range more than YHOO. YHOO broke down right away where TIF chilled out, took its time and then, and then after fooling a shit load of people, TIF decided to break down. TIF trades in range for about 30 minutes, the setup was nice but the location of the short compared to YHOO was why it did not work as well. YHOO had already made it way up to its yesterdays close, where TIF had not covered its gap as much.
What I learned today: When in Doubt Get Out and also consider the location of the trade as opposed to just the setup.
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