The biggest takeaway here is "Do NOT short when the volume is low". The subsequent squeeze was caused by early FOMO shorts covering. As Auspex said, "shorting with low volume equals suicide." Couldn't agree more!!!!
missed $10 para so didn't have an ideal avg and the first cover was due to its staying power.
I chased the 2nd short b/c it looked like about to crack but again bids down there were absorbing nicely so covered.
The 3rd short was a very risky move. It was going up too smoothly and it was not even 2pm so to me it was premature b/o and there must be lots of chasers joined it and the momentum seemed to slow down so I shorted but again it just couldn't go down as expected so covered. Frustrated but I managed 3 trades well.
Neither 5 nor 4 star setup and it was casino trade. MR tweeted the move was caused by REG SHO but I didn't know that. I would short it if I could. Always focus on reactive trade rather than proactive!!
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