The two charts above are again Big Mouth Stocks. I have been playing around with different entry methods and I finally got a hit on one. The first chart is JAKK. With the amount of short interest on it, I wanted to play it a little safe. While I played it too safe and did not get filled.
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The second chart is VCLK. I wanted in on this one. When the first surged started, I threw a market order to short 100 just to get in. As the surge continued, I had my orders ready to go - 100 at 28, 200 at 28.30, 300 at 28.60, 400 at 28.90 and 500 at 29.20. The AH trades got as high 28.75. I believed an overall stop above 29.50 would be good. I waited a couple of minutes as VCLK moved higher before I used a feature in IB that commits all your orders on a page. I wanted to do that so I would get better fills on my lower priced orders. It worked while today. As on the chart, I got filled on my market order at 28.28. My other 100 share filled at 28.47. Seconds later my 200 share order was filled at 28.475 and as the surged continued my 300 got filled at 28.60.
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So I was short 700 shares at a cost 28.50 - right where I wanted to be. It was an odd amount so as VCLK, I covered 200 at 28.16. Covered another 300 right under 28 then the rest at 28.20 on a trailing stop. It was not pretty and a little messy but this is the first time I pull this method off and I like the results. I should have reloaded my shorts at 28.40 - a 50% retracement of the opening range but did not.
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I so far have not taken any other trades even thou I had tried. I am very tired today seeing I did not get home from the airport until 2am picking the wife up.
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