When a short keeps failing, the tape is talking
Google was worked short three times off the opening area, each attempt stopped quickly at a level stated before entry, and instead of pressing a fourth our desk flipped the read to the long side. The long was entered after a first order went unfilled, then trailed up in steps and closed on the cross rather than held out for more. A later double-top short in the same name was given almost no room and stopped within a minute.
The morning in figures
Net points are per share. Apply your own size to get your own number: at 1,000 shares, 0.93 points is $930.00. At 100 shares it is $93.00. At one share it is $0.93. The desk publishes the move, not a dollar result, because the dollars depend entirely on how you size, and that is your decision rather than ours.
The 1h 09m session is on the other side of this.
Everything above is the write-up. This is the morning itself, with the names on every call and the room talking through it.
The morning started with a plan to short Oracle back at the prior day's close, which never set up cleanly, and attention moved to Google instead. The first short went on with a stop named out loud before the entry, and it was hit. The same idea was tried again a little higher, stopped, re-entered immediately, and stopped again. What is worth watching there is the size of each attempt and the discipline of the exits: no widening, no averaging, each one closed at the stated price.
The turn came straight after the third stop: the conclusion drawn was not that the short needed one more try but that the tape was doing the opposite of what was being asked of it, and the position was flipped long. The first long order did not get filled and was not chased far; a second attempt got in a touch higher. From there it was managed rather than targeted. It was trailed once, trailed again up to where the prior close sat, then bumped tighter as the move extended, and finally taken out on the cross. The intent was stated plainly throughout: take the move the tape was offering rather than wait for a number.
A later Google double top was shorted with a deliberately tight stop and was out within a minute. An Intel short level was set and simply never traded there, so nothing was done. Both of those are the same decision as the long, seen from the other side: a level is defined first, and the market either comes to it or it does not.
Heard in the room
TrueTrader is a live trading desk — a group of traders working the market open out loud, every weekday. These are unedited captures from that room on this morning, in the order they were said.
During a muted, down session, Adri reassures members that the current drop is temporary and part of a recurring annual cycle before he shifts back into trade levels.
“Markets drop, and everybody thinks end of the world.”
Every trade called that morning
Losers included. Rows with more than one leg were scaled out; open any row to see each exit.