It made offering at $9.50 but it breakout whole week's consolidation range and kept going and trapped shorts in it so I bought it. Due to weakness I sold.
CERU taught me how important knowing the fundamental is to trading. The news announced today was an old one released in November. So that adds conviction to shorting it. ModernRock sized in premarket and caught the top. I was always second guessing what it could do so ended up not only missing the opening para but also VWAP rejection. Again was being fearless and afraid to take the trade. Next time do the homework, have conviction and just pull the trigger! Always have an escape plan.
Perhaps the easiest trade of all today because I focused too much on CERU at the open and missed it.
As long as the price doesn't cross above yesterday's high it's bearish, period. Be comfirtable holding the short if shorted yesterday at the open or even adding position in premarket today. Pay attention to the range. If it gapped up and passed way above yesterday's HIGH then COVER. otherwise short into pops!!!
It must have caught lots of shorts off guard today. form 4 released saying an insider bought 365k shares which is not huge but still caused volatility to it. Therefore When having open position always always always keep eyes on it and cover into the serenity and looks for another opportunity. Over-stay is NEVER a good idea!!!
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