Trades for Friday, Apr 17th, 2015

17 Apr Trades for Friday, Apr 17th, 2015

9:36 – BUY 500 STX 57.06, SOLD 57.31, out + .25                      =            + $125

9:44 – SHORT 500 MAT 26.42, COVERED 26.20, out + .22       =            + $110

9:57 – SHORT 500 MAT 25.90, STOPPED 26.02, out - .12       =            - $60

10:01 – SHORT 500 MAT 25.87, COVERED 25.53, out + .34       =            + $170

10:08 – BUY 500 ETSY 29.85, SOLD 29.87, out + .02                   =            + $10

10:41 – SHORT 400 STX 57.60, STOPPED 57.79, out - .19       =            - $76

10:46 – BUY 500 STX 87.96, SOLD 400 at 27.28, out + .32, SOLD 100 at 58.23, out + .27       =            + $156

Total Daily P/L:     + $435

Total Weekly Profit:   + $853

Total Monthly Profit: + $6,793

Total Yearly Profit:    + $24,908

STX04172015 ETSY04172015perfstormfailure

Summary

SPY gapped down hard this morning and unlike the prior gaps down, it continued to grind lower and faded every bounce attempt until it got the stinky 2.50s area at 207.60s before coiling. The 208.58 break re-triggered the daily bearish seedwave that caused the extra panic to the lows and is a level the bulls need to recapture to avoid more selling.   We spotted the incredible buyfades on STX early on. We took STX LONG at 57.06 to scalp the 57.31 overshoots, out + .25. We hit MAT SHORT at 26.42 to scalp the 5 minute inverse pups at 26.20, out + .22. We hit MAT SHORT again at 25.90 but stopped at 26.02 and realized that the 26 seller at the super fib was not playing around. We re-SHORTED MAT at 25.87 to scalp out on the perfect storm breakdown at 25.53 in the stinky 5s levels, out + .34. MAT managed to grind back up after bottom on the stinky 5s on the NOSE at 25.50. We noticed ETSY showing some resilience with a perfect storm lining up. We took ETSY LONG at 29.85 for a squeeze on the break through 30.   ETSY spiked to 30.30 briefly but sold back down as and a nasty seller absorbed all the algo flushes at 30. We gave it some time but took a stop at 29.87, out + .02 before FULL transparency of that 30 seller would become apparent.   When a perfect storm pattern does NOT get followthrough, it means one of two things. Either it will take more time as the ma’s catch up and press the action OR the other side is much stronger and building up momentum to reverse hard. Both situations are risky and we opted to stop out and stay on the sidelines since it’s not shortable (IPO).   ETSY collapsed to 27.50s eventually. On the flipside, we took STX SHORT at 57.60 with the understanding that the 15 minute mini pup was challenging the 5 and 1 minute mini inverse pups. We wanted to see if the 5/1 min mini inverse pups could take out the 15 minute mini pup. When the 5/1 minute stochastics crossed back up, that would detonate the 15 min mini pup and a perfect storm breakout. We stopped out at 57.79, out - .19 and took STX LONG at 57.96. There was a big seller at 58, BUT unlike ETSY, this one had a perfect storm that faded the SPY sell-off so firmly. Once 58 cracked it exploded to the upside to scale out 58.28 and 58.23 on it’s way to the 58.46 upper bb area.   Closed out the day + $435 and the week + $853 profits.