Stock Selection Information
Mid-Morning Market Update: Tesla Soars on Earnings as LivePerson Gets Crushed
Morning Market Losers
UPDATE: FBN Securities Downgrades Rackspace to Underperform Following FQ1 Miss, Lower FQ2 Guidance
Pre-Market Volume - 10%
Trading Plan - Strong support @ 41.00. It fail to hold above this level after testing it, so my plan change to short it.
Management
Entry Setup used: Open range break down
Trading Comments
Stock made a strong move down on earnings and consolidated yesterday. Today during pre-market it consolidates below yesterday´s range. After the open again it consolidated below the pre-market range. So I shorted when I saw a strong seller coming in around 40.25
Evaluation
It was a very well executed trade. I could´ve held it longer, but it was before 10:00 and my target was the projection of the range down for a .50 move. When it hit my target I got out. I was risking .07 cents to make .50. this is a very good risk / reward trade.
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