Correct read, good trade, nothing to talk about.
2 mistakes!!!!!!
1)didn't cover when saw higher lows.
2) shouldn't hold short too long when liquidity isn't there(thinly traded)
Did 3 trades and all were green!!!
1)1st one good, took advantage of emotions but should have gone a little bigger but yet again this one is legitimate and popular company. Things could got complicated. My edge and size has been focusing on retail flocked tickers not something that traded 30 millions shares a day and got all bio experts, analysts, investment backs, hedge funds involved!!!!! Yes I still trade them but ALWAYS watch for size!!!
2)2nd trade was at $11.05 risking $11.00 over/under. Pullback and based on VWAP so got out. No fight!
3) $11.48 was HOD and it pullback and reclaimed and did HOD push BUT failed which tells me that $11.48 was the peak.I saw the stuffing action at $11.40, $11.50 and MR tweeted shorting it which reconfirms my thinking so I shorted 1000 shares at $11.36. When it snapped below $11 I told myself, "if it reclaim $11 I would be out." and it happened so got out.
The reason 3 trades were classified as "good" trades not because the money BUT because all three trades didn't workout but I managed and traded it appropriately. Yes I went against the trend and strength but I had a plan and stuck to it!! I am not who I used to be!!!
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