Slower day for me and small profits. SRPT and ARRY were my two plays.
My first play on SRPT I shorted into the push to 61. My risk was on 61.10 because I like to give this fast moving stock a little wiggle room. However, I accidently covered my position for a $275 loss at 61.02. I really did not mean to do that. I tried to re-enter but I never got filled and missed the $1 pull. Frustrating, but such it is. Later, I resorted in the 61.30s on the rebound with 61.60s (the all time high from two days ago) as my risk. I added to my short on the 61 re-test and covered into the pull towards VWAP as I had planned. It was a great short. My only mistake here–besides the accidental cover–was not looking to re-sort on the 60.50 test and fail or the VWAP re-test and fail.
ARRY I tried to scalp short at 5.80 with the 5.88 HOD as my risk. Sadly I did not get filled on that either. What I did wrong was chase some in the 5.60s hoping for a bigger pull to 5.40’s and then VWAP. My risk was on 5.70. I covered when it rebounded back to that for a small $140 loss. My mistake here was starting in short into weakness. I did not get back in during the afternoon when it was fighting in the 6.00’s I felt it was to much of a gamble, 50/50 chance to go either way.
My big miss for today… SAEX. I was looking to get short on a pop to 9.20s-.30’s. Got the pop, but only to 9.09.
