Mission Accomplished: ANDS

     No, this wasn't on my 'Missions Briefing' watchlist- it happened way too fast! I was alerted to the stock ANDS by this post on Timothy Sykes's site Thursday evening. Since it didn't meet all the criteria of my strategy yet, I had no intention of shorting- until Friday's price action changed my mind. Morning spikes on stocks that meet most of my strategy's criteria (this one fits the bill except that it hasn't had it's first down day yet) are great to ride back down. Since I was working all day and couldn't watch the chart, bid/ask, etc., I texted my mom early on so she could try and reserve 150 shares with Think or Swim in case of either A: morning spike, or B: afternoon fade. She texted back with, "What price?" I instantly knew the broker had located the shares and wanted to know the price in which to short, but I wasn't ready. Not able to call my mom, I just decided not to answer (She would never enter a trade on her own, even though she's pretty good after a year of listening to me and reading Tim's posts on stocks I'm in). She texted back that she couldn't wait for me any longer (apparently she had other things to do all day:) and that the stock opened at 7.49 and was already at 7.79 at 9:55 am. I decided (since it was definitely showing signs of a spike) to tell her to short the 150 shares at limit price 8.15. I figured one of two things would happen: 1. if it got that high there was an excellent chance it wouldn't hold, and 2. I was easing into a stock I would want to eventually short anyway. Enough of my jibber-jabber, here's the chart that shows my (Covestor-verified) trade:

And here's a 3 month chart to show where this stock has come from:

     How I picked my exit- after what felt like 2 seconds, my mom texted, "Got it:)". This confirmed it was a genuine morning spike! Now what? I called her on my lunch break and asked her what the chart looked like at open, and if there was any volatility before the 'rocket launch'. She said around $7.45 it stuttered. I figured, if it did in fact collapse, it would shimmy a bit at that support level- so I told her to put a limit order to cover in just above it, at 7.50. And there you have it. The best thing about the trade is that it finished up for the day, which means I'm placing this stock on both my 'Missions Completed' and 'Missions Briefing' lists.

Enjoying the weekend,

Evan