Should have removed it from the screen! Historically I had poor recording trading extreme liquid stock. This thing traded 7 million shares before the opened!!!! MR lost big on it shorting at $2.80ish and double the loss shorted at the open. When the stock went from $4 to low $2's everyone thought the news was bad and short-biased. Guess what wrong!! No edge trading it! neither long nor short!! In the future just avoid it!! take it off!!!
No selling, Should have downsized more but didn't. Each dip got bought up!! But glad I removed liquidity and covered otherwise it would be a nasty situation. $12 price target does sustain the momo!
SPU once again didn't do what I thought. I thought it would trade like SAEX on day2 so I didn't look too much into it at the open. My plan was letting it do its thing and I will initiate my entry at 10am, 10:30am or so. Had I taken RIGL into consideration I would probably short it at the open!!! RIGL attracted all the momo therefore SPU couldn't fly! This is the market you have to respect. So many banked on SPU, AT09, elkwood, Madaz, Phil. This is typically day 2 gap and failed follow-thru momo type of play. sighing... easy trade but I didn't take it. Just be wrong about it the whole time. Later I was thinking to short it near the VWAP but it never reached anywhere close there. Big opportunity miss today!
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