$STAF Pops Drops Fades

Identify The Trade

$STAF was fairly active in the premarket but still with light volume. It was reaching a 50% move, which caught my attention. I was looking to see how it would react right before and after the market open.

Choose The Strategy

The strategy for trading $STAF was to use the premarket high and any breakout with whole and half dollar point as resistance. If I could get a good short entry against one of those resistance points, my stop price would be just beyond them.

Setup, Entry and Exit

Execute The Trade

During the first minute of the open there was a mad rush panic pop that I got a short entry on and after $3.50 could be broken, it just fell apart hard and fast. I took my exits at appropriate points and enjoyed this easy less than 30 minute trade.