Started the day off frustrated, got offering on BSPM 15 min before the opened and it crumbled. I located 3k shares just in case but I didn't think I would use it because i don't think it's good trade shorting gap down especially with SSR on. I made a lot of plans before hand but offering news ruined it. I was thinking to ss risking $5 over/under but couldn't pull the trigger.
IPCI just lack of conviction and courage due to BSPM's crziness yesterday so couldn't get filled fullsize. NVFY missed $5 short and chased it down but it was hugging VWAP so I covered for the time being and waiting for opportunity but it just collapsed.
Then HTGM caught my eyes and I made the best trade of the day!!!!Was shorting into $3 pop and actually adding to my position anticipating HOD rejection BUT I was wrong. I noticed volume was bigger than previous so I quickly covered half and the rest into pull. Didn't expect it to do the crazy shit later on but that is big red flag!!!! So I run instead of walk!!!
That happened to be the best thing I ever did today b/c 5 min later it just took off and skyrocketed!!!
2 regrets here: 1) Should have entered small speculative long order due to BSPM mania yesterday but didn't. 2) Got busy with NSPR and didn't think of shorting it until it already cracked VWAP and I missed the best time and entry level. Surprisingly this low float beast is extremely heavy and after lunch volume pop caught my eye and failed to hold $3.50 lvl so I entered order 4k shares ss and willing to add into strength risking $3.60. I knew the stock was weak b/c since it cracked VWAP it failed to get anywhere near it and by looking at time and sales you can tell how strong selling pressure was there. A few min later it pulled and cracked support and I covered all.
this is the trade I am proud of. perfect read, refused emotional shakeout, although a little confused and concern when it was held up but I trust what I saw. Not to say that I didn't have escape plan. I set time stop loss order at 11am. If it continued chopped around after 11am I would be out partial if not full size. It did what I wanted and nailed it.
Last trade of the day and the difficult part of trading this is execution. I avoided ss para b/c you don't know how far it could go so I waited for the pullback and ss pop risking HOD but there was lacking BP there and I located 4k shares but only filled 500 shares LOL. It was up on offering news at $2.40ish and it was midday spike after ridiculous full of momo day, you should know that there are lots of weak hands buying it!!! It reminds me of SMIT but this one is hard to trade. The hard part is If you missed ss para you missed the trade but if you ss para you don't know how far it could go. So it's okay to trade but just keep size under control!
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