I was busy with analysis today and therefore took one opportunity. This one opportunity was Kroger short on weak guidance. Earnings was in-line, but weak forward guidance has been the reason for the sell off in many names.
I got short at $62.69 with my stop/exit over $63.32. I held the full size short and exited on the green candle after the 60.96 bottom. I covered the short at 61.20 average. The cover came after the huge volume came in at 61 but there was no follow through. I fully expected this to continue short after the bids at 61 were cleared. There was aggressive buying which we can see with the reversal to VWAP on the following candles.
Overall, this was a very well planned and executed trade. Managed flawlessly.
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