Identify The Trade
After the open $STAF started moving up with increasing speed and I became interested in short selling this move as it got closer to resistance zones. This stock is a very low float and potentially a very volatile mover which means all stop loss levels must be respected. However, there isn't so much institutional ownership of the company, so tom foolery should be at a minimum.
Choose The Strategy
The trade that I saw on this stock was a HOD break and reject based off of previous resistance zones I had identified. Since $STAF had gapped up so much, nearly 100%, if volume remained on my side, then this would be a good trade.
Execute The Trade
Using my risk level as $3.75 I was able to get a short selling entry at $3.41 with the target of the low $2.00's in mind. However after getting my entry, the volume faded with a bear flag and buying came in hard pushing prices past my risk and I had to get out. With a very low float stock like this one, respect your risk always!