After the quick gap down there was more than likely going to be a short covering happening very quickly. After I saw some stabilization on the 1 min chart I figured the stock would gap up quickly. When a stock stabilizes after a gap down like that you want to put in a tight stop on your long position in case the price breaks thru the mini support.
TODAYS EXECUTIONS: 15:20:44 TYC BOT 3000 10.20 15:13:49 TYC SHRT 3000 10.50 15:03:03 TYC SLD 3000 10.50 14:59:39 TYC BOT 3000 9.51 OPEN POSITIONS: NONE CLOSED P&L: $3,870 OPEN P&L: $0 MTD: $10,670 YTD: $213,944 See everyone on Monday.
Nice trade at 9.51 I know the Specialist wasn't filling too many orders down there for retail customers - you musta got real lucky someone else i know put in an order to marketable limit order to buy at 10.50 when the stock was printing 9.45 and got filled 1 point higher. Uncanny
I still get a kick out of Seanote's reply to nitro in his May journal when asked why he shorted QCOM. Seanote's reply: "I wanted to make some money." Seanote, thank you very much for going through the effort to post all of this. It's great to watch a master at his craft. Thanks again.
other uncanny things...short MO before had news hits...long MERQ before a wild spike to the upside... Fortune favors the bold.