Was wrong on everything today. But I cut my losses quickly so they had very minimal impact to my account. EXAS killer gap up but was fading and opened far from premarket high. But due to massive volume and Nate's long bias call I iniitally was long biased so I took long basically risking premarket low but it cracked so I sold. At at point I still kept my long bias in the mind.
But it sustained the downtrend and made new low which got me convinced hey this is not coming back and at the same time I missed the best time to trade it. Classic buy the rumor on day1 and sell the news on day2 stock. It reminds me of AEZS and so many others-big 1st day shooting up and gap up para followed by all day fade on Day2.
Wrong, thought it could do morning spike but stuffed so got out. Took loss but I was proud of it.
Lots of absorption so I covered. Did right thing that got myself out. But when it failed to keep the momo and run, I should have re-shorted but I didn't. I was just mentally not there.
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