Another case with stuffing and absorption at the same time and lessons and mistakes on last thurs. and friday taught me to load up shorts and give it a shot. In the past I would definitely cover it when it was hugging the VWAP but due to recency bias I decided to give it a chance. Didn't quite workout so I covered half but reshorted due to non-significant volume and it could be secondary push followed by all day unwind.
Was right at the end but midday higher lows got me freaked a little bit so I covered. Then boom big red trend broken red candle happened so I reshorted.
2 things:
1) when the stock fail to break down, ALWAYS cover partial if not whole position
2) Always take profits along the way, forget about homerun breakdown!!
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