Stray QID short...........

Discussion in 'Stocks' started by dm_v, Aug 19, 2007.

  1. dm_v


    08/17: Previous QID close 50.10. Early morning spike down filled my bracketed buy limit order at 45.23 placed in anticipation of a pullback and a bounce off the 50 dma. Sure enough right back up and my sell limit at 46.92 is hit. After shorting the initial pop in the Qs and the DIA, I was done for the day and flat for the weekend with big money in the bank after the first hour of trading. I return later in the afternoon to check in on the market and I got the dreaded “busted trade” message for the QID buy, my first. I’m pissed and raise holy hell with IB and get the Nasdaq number, etc. The stock was trading in the $45 dollar range all month, hovering around the 50dma when it popped to $50 with the big market drop. With the market clearly trying to bounce back in the next couple days, looking for support on QID back at the $45 (opened at 45.70 3 days earlier) area seemed like good idea. Guess not. In the context of this specific chart and the market in general, how can this trade be deemed erroneous? Hope the market continues its pop up on Monday so I can cover my new found QID short in the green. I’m not sure what to feed it over the weekend. How do people deal with this added form of market risk when planning and executing trades? This is definitely going to kill my trading mojo.:eek:
  2. Maybe go ahead and put on an NQ contract if you have enough shares of QID to justify it, or just wait a few hours.

    Hope it works out for you.