I’m ending the week with one of my best weeks, +$5,244–after commissions! +$750 today on X.
I went in today with IDXG as my main watch. I was looking for a push towards $2 for a short. I was thrilled this AM because my DAS platform for my ETC account said IDXG was easy to borrow! I was focusing almost all my energy on this one stock. I went to short in the 1.90’s and got a message saying my order was rejected because IDXG was restricted! Needless to say I was a little shocked. I pulled up my short locate and sure enough it was restricted. No worries I thought, that is why I have Vision as well. Almost everything can be borrowed there. Nope! Restricted at Vision as well.
I missed two other plays as a result of IDXG taking all my attention. I planned to short AMD if it pushed towards yesterday’s hod and X if it pushed towards R/G and failed. Both of those stocks did exactly those moves, but I missed them. I was able to catch a secondary move on x however. After its first fail off yesterdays close I started in short on the push back towards VWAP. I originally went in with $37 as my risk but realized shortly after entering that was not a wise stop point given the range on this so I moved my stop to HOD. The only issue though was by this time I was sized in a little to big for that kind of risk level so the play made me a little nervous when it pushed to 37.20. I stayed calm though and it worked out well. I covered 1/2 at 36.43 and planned to cover the rest in the low 36’s, but when it held 36.30’s I went ahead and covered the rest. Should have kept an eye on it though, some other great plays on in throughout the day.
Note: I got an email from CP about borrows on IDXG later in the morning. Turns out it was sortable at Vision. Was just a brief error on the platform as well.
