$CHK perking up and showing me the setup as the "HIGH" is $5.93, "HIGHER LOW" is $5.84 and another "HIGHER LOW" is $5.72. I start in the initial short position at $5.61 and add another 1/4 position to $5.55 as it crack below the VWAP with the risk set at $5.72. It starting to hold the VWAP and moving back up so I cover $5.72 for small loss. This is good risk management from my game plan. Lesson learn from this trade is I should have let it fall below the VWAP and giving confirmation before adding more size and I should not cover right away at the $5.72 support. I should have let it test there up and down a few pennys and see how it react. Overall good risk management trade.
$HZNP was on my morning GAP down scan, I start to watch it fall in premarket. As market open it start to pop and fade below the VWAP. I start in short $14.63 with the risk around $15ish that I am able to scale up. Once I saw the big drop and rebound I cover $14.57 and look for better entry, then it drop again so I start in 1/4 position short $14.31 and let the trade work. I cover some at $14.07 so I can get some cussion. I short more $13.69 as it fall below the previous LOD $13.74 and cover the rest at $13.23ish from the panic and that is the LOD cover as well. Good overall profit.
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