Warrior Trading Blog

$APPY +$1766 on Gap and Go Setup

Hey everyone!  Another poweful day in the market with some massive movers.  We had a 50% drop on $MGT, dropping from a high of 5.60 to a low of 2.65.  Just an incredible range!  I said early on this morning that I wouldn’t be trading $MGT because it was simply too risky.

Instead I went for the fresh gapper.  $APPY was gapping up this morning on news that $MGT took a 5% stake.  This was a big of an unusual news piece!  I haven’t seen a massive runner like $MGT (see DGLY AQXP KBIO, etc), take a stake in another company during the run.  Unfortunately for $APPY, the headline came out on the same day that $MGT took a nose dive.

This morning I took a Gap and Go trade on $APPY with a long at 6.00 and exit through the spike to 6.60s.  I then took a second entry at 5.34 on the pullback and curl, and rode that on the move back to 5.50.  Overall I net +$1766 on 2 trades.  Not bad for a trade straight off the watch list and Gap Scanners!