made my second trade on ERII and that was it!
LESSONS:
-threw patience away and entered position TOO EARLY!! afraid of missing out hurts!
-just because the stock is weak doesn't mean I must play the long side!!! being blindly contrarian is fatal!!!!
-when it's red and below VWAP, do NOT anticipate squeeze!!!!!! all shorts are happy sitting with green p&l and WON'T panic!!!! (ITEK, SGYP, CANF, lots of former squeezer never squeeze from red zone)
-didn't wait for the CONFIRMATION to size in
-made assumption, was wrong and overstayed
-compared it with CANF(6m float), this is 50m float stock!!!!! should be traded differently!
-read MOMO trader yesterday and should looking for entry premarket and exit during 9:27-9:30am if short DIDN'T workout meaning "RED"
-the ONLY good things I did was 3 things:
1) got out yesterday short at $6.47 when higher lows spotted
2)used half of intended position size
3)cut loss when $6.67 broke down
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