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.
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.