Kept SMMT on the back of my head so afraid to jump on premarket when it is holding near the high.
thought of all the possibilities in my head and the best trade I would like to trade is shorting pop risking $9 or yet better $10 and capture one pull. It ended up fading and get heavy out of gate and straight selling down. Given yesterday's action I should have anticipated that today will mirror yesterday's sentiment and therefore I should have adapted. Each bounce was weak so I added to my position risking $8 and when my position was filled partial I could tell this thing is extremely weak!
I should be comfortable holding it thru out the day but couldn't resist taking profit b/c I thought the bounce is due. It even went red later the day. Made nearly $2k but underperformed!!
Opportunity miss on these 2. 2 things influencing my decision not taking the trade: 1) the locate fee is 2 cents for CHEK and 3.3 cents for LEI and they were up just 10-15% so I think the downside is very limited so I didn't trade them. Given today's sentiment I should have shorted them!!!!! You always need to adapt!!!!!
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