CTRV made ridiculous movement yesterday we got $0.50 squeeze into the market close and that should flush out lots of shorts. Today I came to the market trading the CTRV with thesis: I definitely not going to long the stock, the stock was turd, it had big ass squeeze in the morning and downtrended all day and to me it is already in the stage of backside. However, it can still do FORD, ITEK type of movement. I wouldn't long in the early morning, the ONLY time that I would long is if it consolidate the whole day and it's gearing up and holding trend the whole day, then I will long aimed for EOD squeeze. From short perspective, I know that I will definitely not short in the premarket, you never know what is going to happen when the bell rings. Also if the stock was showing weakness out of the gate, be cautious!!! I know this is crowded short, so there is big chance it could squeeze and sure it did!! wait for the squeeze to size in and anticipate the LOD cracking. Danger signal: time stop loss should trigger if it refused to went down or start consolidating or even it went down but quickly ramp back up, get out!!!! when I have good execution, the benefit is even if i am wrong, I could still get away with profit or breakeven..Choppy ticker as the movement made later the day. I wouldn't be surprised to see it squeezed up tomorrow morning.
WGBS was fairly an easy 10% profit trade had I exercised patience. Morning exuberance spike followed by fading. the KEY is to wait for exhaustion/confirmation before started sizing in. $1.80 was a good entry price and covered in the low $1.60's. PATIENCE is the key to succeed!!!!
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