LNKD trade review "rubberband snapback play"

Hey guys.. heres a trade review on my LNKD trade from today.  I noted yesterday that the stock was extremely oversold (stochastics <20) and was almost ready for a bounce.  Here is the chart of what I saw.. note the lower bollinger band and the stochastics.

So this morning we woke up to a huge gap up in the markets.  How I usually play a stock like that is oversold like this is wait for it to open completely out of the lower bollinger band and then take the trade as it moves red to green.  In this instance.. market gapped up huge on us and LNDK ran up 2dollars in one candle right out of the gate.  This tells you that there is interest and it is most likely time for the stock to re-gain some of those losses.  At this point the stock has accumulated huge short interest and can squeeze 4-5 bucks fast.  So, when this happens you can’t chase the gap up..  instead you wait for the stock to pullback to support  and buy the intraday dip.  I bought the stock on a dip to 60.9 which was the premarket support area and the area that the stock opened on the day.  The stock acted well all morning and continued to ride up the moving averages.  Once lunch hour was over.. this is the time that you expect the stock to make a move.  Stock broke intraday at 62.5 right on cue of the 1pm move. (see intraday chart below)  Huge volume started to pour in. This is the spot that you add more for an intraday daytrade.  Once the stock breaks intraday.. you know you are in for a big squeeze, as all the shorties have their stops set at this level. I sold 1/2 my position into this intraday squeeze level at 63.2.  Stock continues to run rest of the afternoon and closed on highs of almost 66 bucks. I overnighted 1/2 position since the stock closed right on its highs. As long as there are no shenanigans.. this one should gap in the morning.



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