Looked over-extended and everyone thought that was it, the peak is right there!
But lots of red flags!!! the main one being weak pullback and way above VWAP. Super trappish and clouded everyone's mind thinking shit, it ran tooooo much, it got pull!!! there is no way it keeps going with this mentality it drew in more and more shorts which fueled the subsequent move! Including myself thinking the upward move is over. Damn!! Therefore don't trade what you think!! pay attention to the price action and trade accordingly!
I have to admit I traded it terribly!! the same mistake I made on CCXI and OPTT which I thought it ran too much but guess what it kept going!!! topless! I tried shorts multiple times and all failed except the last one but MAN that was a bad decision!!!. The timing and entry is bad!!!!! I held 2k shares with avg $2.53 to the $3 before hard pulled. This beast could keep going towards $4 or $5!! I got lucky that last short worked out so I covered into pullback. 50million shares traded!!!!! this thing could go big day2!!! Epica is damn right about it!!!!! That separates an experienced trader with rest of us
ONLY 1 mistake I made on SITO was covering into that stuffing and rest were good. Perfect entry, perfect exit!!! I luckily caught the bottom!!
these 3 trades were easy and stress-free. OPTT may have momo tomorrow but unsure.
This is the recap for yesterday's trade and reason AT09 banked nearly $20k yesterday. Overhead resistance plus fishy volume days prior combined together make the day it announced earning "sell the news" type of play!!! This is high probability, high reward, low risk type of trade!!!! Hope next time I can spot it myself and hammer it with conviction and size!
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