Today I played CONN, PTCT and SRPT. I missed some great plays today though because there were just so many that I could not keep track of them all!
PTCT I walked away with puny gains, $50. I shorted on the morning weakness but it bounced off G/R. I covered because it was holding. I planned on getting back in on a good ramp. It ramped to the mid 11.60s, but I fully expected it to at least touch yesterdays HOD of 11.70s. It dropped and then it tested todays highs again, but once again I expected it to go further and missed my opportunity. It was shadowing SRPT up to this point and SRPT was braking out. However, it broke trend with SRPT and failed. Biggest miss of the day for me by far.
CONN was a good play I just did not get much size before it cracked. I shorted into the morning push and covered into the pull.
SRPT was my play of the day. Proud of how I played it today. My first position on it I shorted into the push to YHOD which was also my risk. I took 500 shares short given my entry of 54.70’s and my risk around 56.10. I covered 1/2 into the first pull to VWAP. My plan was to hold rest for brake of VWAP but it ramped back so I took the rest of my profits. I then shorted again 500 shares after the B/O once it puled from the new HOD of 56.80 with that also as my risk. I covered 1/2 again on the pull toward VWAP. This time however, I added to my position on the ramp to the 55.70s. It just felt weaker this time. I once again covered 1/2 on the pull to VWAP. I held the rest hoping for a crack of VWAP with my risk on my new average of $56. It did pull below VWAP but then it had a huge candle and spiked above it. At that point I took the rest off. Nice $1162 gain on it! I had to take one of my horses to the vet so I missed to killer short opportunity at the end of the day on the HOD reject.
I also missed a great play on BSPM later morning and GBSN morning ramp. Overall, a very solid day for me though.
