Very slow market today and devoid of liquidity and volatility, extremely to get in and out
Gave them chance because of over-extension on daily chart but didn't quite workout. Still GT
Good morning short but it didn't do what I expected. $.20 kept reclaiming just like NYMX yesterday.
Took long afternoon 6000 shares with avg. $1.266 but didn't workout. Sold. Yes loss BUT good trade
Whenever I stay disciplined, shrug off the loss. Take pride in being disciplined trader!!
HOD rejection led me to ss into next anticipated HOD stuffing and rejection. Nailed the top and covered half because $4 reclaimed. Did the right thing. Yes in hindsight should have taken off the entire position.
Then here is the problem: I reshorted into weakness and got squeezed.
Low Float+SSR ON+short into weakness=SUICIDE!!!!!
Yes I was right that HOD stuffing and I anticipated people would start taking profit by EOD if it failed pushing but I threw patience away and shorted when time wasn't right. This is the play that you need to sit tight and only wait for big volume+strength to initiate short!!!!!!!!
Things could get a whole lot worse. Glad I only covered half at $3.40s and covered the rest near VWAP from position avg. $3.20
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