-Feeling frustrated and pissed due to missing ATV long, GNVC and LIVE short into morning emotions players.
-ATV was a track that ran from $2ish to $20 but dropped 30% the last two days so I took longs anticipating rebound caused by shorts covering and dip buyers. didn't get what I want so cut my position and moved on.
-Trading on the anticipation is not a good idea and especially it has already made its move in the morning. The best course of action is doing nothing but continue watching.
-KBIO created lots of surprises and shocks to the market the past two weeks but again sit down in calm and think about it, this one's got tons of bagholders now it's already in the backside of the movement before meaningful consolidation so any pop can be great shorting opportunities!!!
-I and I believe many people are fearful shorting it due to the painful memory but you can not let emotion and thought to get on top of judgment.
-remember, as long as you can short into pop with significant & tight risk level is good short! don't ever think a level can served as resistance, wait till the level gets tested, retested and short after make sure it's a resistance. (LIVE is a good example displaying that level at $2.50)
-another missing opportunity is with GNVC's morning emotion shock. I was disappointed of its momentum and I could hear the inner voice said, "please make secondary spike". But didn't get it and my experience taught me not to short morning weakness so ended up missing out the entire show.
-the reality is the entire microcap market is in a slump the past two days. There is just not enough momentum in the market. You have to respect and take it. There is nothing else you can do.
-I was aware of the effect of "FOMO"therefore I refused to short but on hindsight I should have shorted small. It's okay to short but always have tight stop loss order in place!
-The day started with disappointment and frustration but luckily I saw % gainer and saw DHRM was hanging around $3ish so I quickly opening ST and ready to tackle it.
-Saw the weakness and bears started stepping in so I quickly shorted 1000 shares at $3.20 but the momentum was still on so I decided to reshort risking $3.50 because I could see $3.50 could potentially be strong resistance. Here is the crafty part of trading:I incorporated chart, level 2 and T&S table to determine $3.50 as resistance so I reshorted $3.49 and ended up holding 1700 shares with avg $3.39. At that point I was considering the risk and reward: risking $0.11 with the favorable odd of making at least $0.50.
-as it turned out, it did exactly what I anticipated. The only difficult part is liquidity. It's hard to get filled but it's normal. I have strong conviction it could go down so I exercised patience and covered in the $2.70's and later on it did go red before bounced to $2.50ish.
-couldn't short LIVE in the morning but had big interest watching it.
-Had no bias, it could fade through the day or setup ABCD, not necessarily going to breakout but have possibility of gearing up but in my opinion this one is crowded short player.
-Was even thinking to buy it in the last minutes but it's got lots of resistance on the chart and and from level 2 I could tell it: whenever the ask got hit, big sellers kept showing up. $2.50 is a meaning resistance, there is no BUY unless $2.50 breakout and holds.
-the daily chart is very similar to CANF, PBMD. it's got resistance all over the place. I think it's 50/50 chance of going either way so NO POSITION at the time but will keep watching it.
-Plans: 1)big gap up on monday, will short into morning exuberance spike but COVER into the weakness/dip NO matter what. If the trend holds and it makes higher low, expect ORB and fly-to-the-moon kind of move. 2)No gap/tiny gap/gap down, will short into the pop risking certain risk level.
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