A short-the-pop tape that paid on the index
The premarket read was simple and held all morning: a sea of gap-downs, no long levels worth marking, short the pops. The cleanest expression of it was an index long our desk took into a washed-out low with four scale-out targets written down in advance, each one taken as it printed, with a trail behind the last piece. Apple off a morning level and the Amazon short into its Camarilla target did their jobs; Micron cost the desk something on the short side before paying on the long.
The morning in figures
Net points are per share. Apply your own size to get your own number: at 1,000 shares, 703.21 points is $703,210.00. At 100 shares it is $70,321.00. At one share it is $703.21. 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 10m 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 index long was the trade of the morning and it was not improvised. The entry went in on a flush under the lower band, with the scale points named out loud before the first fill came back: four targets, taken in order, and a five-point trail left on the last piece with an acknowledgement that a fast dump would slip it. The trail got tightened to three points as the move extended. Nothing about the exit was renegotiated mid-move, which is the whole reason there was anything left to take at the final target.
Micron was the name that took the most talk and ended up on both sides of the ledger. The first short was entered with a four-point stop and a re-entry level already written down; it gave back open profit, the stop was moved tighter above a reclaimed level, and it stopped out. Later in the session the same name was worked from the long side as a deliberate knife-catch, with the bid stacked at several levels below and a hard two-point maximum risk. A stop went in on the wrong button and the position came off by accident, and the response was to re-enter at the same average rather than chase a better one or walk away annoyed. That re-entry scaled out in profit.
Apple came off a level marked before the open and was covered without ceremony. Amazon was shorted twice from tight stops: the first attempt was kicked out on the wick above, the second was re-taken under the round number and held to a Camarilla target, with part of a separate position trailed out flat. Two attempts at the same idea, one paid for by a small loss on the first, is what the tape asked for on a day with forced liquidations being discussed in the background.
Every trade called that morning
Losers included. Rows with more than one leg were scaled out; open any row to see each exit.