The daily chart as starting point of "seeing the opportunity "
Overextended, big board stock, very liquid, due for some sort of pull back, Although never 100% sure playing the odds is name of the game.
THE PLAN twitted here according to all market conditions:
SCTY was gaping down below PDC ( Previous Day Close) as quite a resistance that has to be overpowered in order to move higher.
Odds are it will be hammered down once on its way up.
So the plan was made during pre market hours.as twitted here.
SPY was negative too.
Having in mind the ATR of $4, scalping 40 to 60 cents 1/10 of the ATR is quite all right on short side. I rarely get such good entries from a first try , but if I didn't have the accuracy my plan was to build bigger size ( more risk BTW) for bigger gain. It is risky play not for novice trader ( not even for me, I am still a novice and I still keep my corporate job / I guess I love people too much LOL) but luckily it worked all right having in mind I have been watching SCTY quite long time and kinda have the feel how it trades.
These are the approximate executions per plan made before the open. It was impossible to tweet them all, although I tried , which actually costed me few hundred bucks at the end when I saw little too late that it may shoot up.
Over all quite happy with thee outcome.
Posting PnL is not my favorite discipline but it has to do with personal issues with @TimothySykes who after insulting me deleted all his twits. Luckily for him, I haven't saved them or he'd be subject of my main profession: suing scumbags.
This was another short ALB that I alerted here real time on twitter but decided to pass on it due to not enough liquidity and not favorable spread.
Have a great weekend all
AngelDan@DaChopa
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