A tech flush with no headline behind it
Semis dumped hard out of the open with nothing on the wires to explain it, and our desk spent the first half hour working long entries into a falling tape: stopped, re-entered, stopped again, then holding with a stop under the lows until the bounce came. A short on the index side was worked alongside it, paying once and stopping once. The morning finished constructive, but only because sizing and stop placement were decided before the pain rather than during it.
The morning in figures
Net points are per share. Apply your own size to get your own number: at 1,000 shares, 11.19 points is −$11,190.00. At 100 shares it is −$1,119.00. At one share it is −$11.19. 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 08m 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 open in MU made no sense and nobody on the desk pretended otherwise. A 30-point drop with no news, no squawk, no trade headline. The search for a catalyst went on for twenty minutes and turned up nothing beyond speculation about a coordinated sell in the perpetuals market. The first long into the flush was a clean 1:1 plan and it stopped. The re-entry stopped too. The third attempt was the one that mattered: stop under the session low, deliberately wide, and the position was then carried deep underwater without the stop being touched. Scaling started well before the full recovery, half came off on the patience below the lows, the rest was trailed and taken when the trail hit for the last ten or so points.
Alongside it, the index short was worked in two pieces. Part covered quickly for a solid gain, the remainder stopped out, and was immediately re-shorted rather than abandoned, which is the decision worth noting more than the result. One add was fat-fingered onto the wrong symbol and was owned out loud straight away. Elsewhere a SpaceX short, entered patiently after an earnings pop and covered into the fade, went close to textbook with none of the drama.
The Google long came later and was managed the other way round: a stop initially tightened toward breakeven, then deliberately moved back down under the lows to let the idea prove itself wrong properly, and only after the move went in favour was the trail reinstated. Two opposite stop decisions in one session, both reasoned. That is the thread through the morning: on a tape with no explanation available, the only thing under control was how much was on and where the exit sat.
Every trade called that morning
Losers included. Rows with more than one leg were scaled out; open any row to see each exit.