11/30_SCON, CSBR, GLBS_great day just one minor dent

SCON should have attacked when backside confirmed. It traveled further than I thought so I thought it was crowded but "crowdedness" is a degree of measure. such as 1-10. Only the stock will squeeze if it's crowded and traded near HOD. In this case, smart shorts are still in the money!!!!

Great short, great cover BUT longed for more squeeze, chaser trade, volume diminished, should have gotten out earlier. Took 2k loss on it. Still decent day but just one minor dent.

11/29_ACST, CBMX, GENE, GLBS, VBLT_another day full of turbulence!!! Unhealthy!!!

Best trade of the day. Nailed the top and bounce

Shorted into weakness thinking dilution is occuring. Wrong got squeezed and took $2k hit.

Nailed the backside bounce short. Always keep PZRX on the back of my mind thinking it could do "crack then grind" type of action.

One trade, one mistake turned my green day into red. I got squeezed $2 from my entry!!!! Too biased and stubborn due to midday halt and offering yesterday. Didn't pay attention to the technical indicator b/c if I did I would cover all into weak pullback and hold action. In the back of my mind I thought there were 20 million shares to sell with warrant exercise price $1.50. Nope!!! Right after I saw Nate's tweet-the deal closed in December!!!! Meaning that at this very moment the float and O/S is still the same. So I had to cover into the pullback taking the loss. Had I paid more attention to offering info I would be safe and free from this disaster..

Trying to make back loss but ate $1k. that's it for today!!!! NO MORE!!!!!

11/28_GLBS, PZRX, IDSA, REPH, MPET_Turned 5-figure loss into gain, unhealthy!!!

The only regret was when it was holding above vwap on volume I didn't downsize. Held 10k shares into the squeeze and ate $3k loss on it. Great cover into the dip didn't think it would go down easily. At the moment it was already trading more than 10m shares.

Reshort couple times midday BUT here comes the red flag: it snapped at 1:20pm which was considered premature snap so I did the best thing covering most into dips. The panic should flush weak longs out and it wasn't even 1:30pm. I knew AT09 shorted it between $2.60-$2.80 range and got smoked EOD. Not easy trade but glad I was on the right track.

3 stupid longs didn't workout. After frustration with PZRX and it held up I thought it would shed some momo to there plays but didn't. I made the same mistake before-buying into para and bids kept dropping since my entry. FOMO entry!!! there wasn't "relative volume" indicator there!!!! After PZRX trade I got a little too emotional and wannted to make $$$$ desperately.
At this point my pnl is ugly:

Down nearly $10k on the day. I was wrong on everything I touched. Thinking to quit and call it a day but nope that's not me!!!!! I took $50k loss on SINO and DCIX last week and I didn't even backoff. Why this time??!!!!!!!
Thankfully here comes GLBS:

Took loss initially but did the right thing before it went to $8. Shorted some b/c I didn't want to miss it and I am okay to add some near HOD risking that level. Luckily got halt and BOOM~offering. Turned big red day into green day. Grateful to be survived but remember you can't survive every time! Starting tomorrow size down and trade appropriately.

11/23_MDGS, ESEA

Great trades!!!!Nice cover!! Nice reshort!

thanksgiving long. didn't workout. Should have got out all earlier!

11/22_SKLN_You CAN'T survive every time!

Didn't respect the "relative volume" so only covered partial into the dip. Had opportunity to escape but didn't do it.

Did 2 vengeance shorts into weakness midday. I lost control and emotional balance.

choppy one. premature breakdown-I should have covered half if not full!!!!!!!! the stock is traded 20m shares!!!! What makes you think it would go down easily?! I wanted more so I kept holding...Fuck homerun and vengeance mentality!!!!!!!

11/21_DRYS, RXII

Should have kept reshort due to epica and auspex's tweet on massive dilution

Should size up a bit. only 2k shares...not enough!

ST account I took loss on RXII. Shorting too early and didn't cut the position on time. Plus ST's execution is terrible!!!!

Time stop loss triggered so I should have cut it or at least downsize by 2:30pm. Turned big day into smaller day. 

11/18_DRYS_Roller Coaster day continue...Was down nearly $20k at the top!

Mistakes/Lessons:
1)failed to respect "relative volume" and jumped on it too early!!!!
2)I did the right things and covered all position when it was holding above VWAP and thought about it could breakout again and get stuffed and I was dead right.
3)But I covered being afraid and it looked like hard to crack and DRYS is the stock I probably don't ever want to touch it again. It is outlier!!!! When rationality tells you it's the POS then next minute it moved up another 2 bucks! You can't use rationality, logic to time and trade it. The best is to avoid. Period!

WTF. Massive dilution is happening.

11/17_SINO, DCIX, DRYS, SCON, BNSO_Finally....

Thought today could be the day but unsure so traded defensively and kept entry close to the stop out point- $14. Glad it worked out.

The entire shipping sector tanked today. I picked two of them. DRYS got offering at $40 and will open at 10:30am so I should have sized in BIG prior to 10:30am anticipated the tank. I got scared from yesterday trading based on anticipation so didn't size in quite enough. DCIX's unwind is unreal. -60%!!

SINO-Yes I made more than $20k but underperformed. I though about getting back in after coming back from lunch ideally $8-$9 POS but it couldn't get there. It was extremely weak!!!! I should have adapted and short anyway(chasing) but didn't. I ended up watching it tanked $2 from when I came back.

DRYS finally. It's got halt premarket yesterday and opened up today 60% down!!!! As expected it's got offering. the tricky part is last couple days. Yes it looked easy on hindsight but it wasn't easy. Jay, AT09, Bullzone, Ericwood and many other big time traders paid price for it shorting at wrong time. I myself ate $40K loss on monday. But looking back I didn't and will never regret my short... the ONLY thing that I regret was when I saw red flag/danger sign I didn't get out quick enough and flipped long!!! Had I longed I would be filthy rich right?! But there is a lot of risk on long side because it literally could halt or made offering anytime. This time it was at $120 premarket yesterday but it could be at $100, $80, etc....So it's much safer to long small it and longed big on sympathy plays like I did yesterday on SINO.

One last regret I had was not trading appropriately on SCON and BNSO. I saw BNSO at $2.20ish and relative volume told me to long it but I hesitated and it went up many points and I didn't wanna chase. SCON was tricky. I turned winner into loser. I thought the top was formed but guess what the volume surged so I remained disciplined and stopped out and flipped long 4k shares. I thought it could keep traveling but it breakout $4.20 and peaked out at $4.50 then unwinding from there. Classic fakeout breakout action followed by unwinding. BNSO followed with SCON and unwinded too. It's pretty clear the same group of people trading these two. But when it looks clear it's always late to profit from.

i luckily sold 4k shares near the top. The only regret was not flipping short again. Yes I saw people tweeting about it knowing it as a turd but doesn't mean turd can't fly. The story behind the scene is people liquidating shippers and pouring money into BNSO and SCON and they are weak hands.
Yes I made nearly $50k today but underperformed. After everything I been through last 3 days I got scared. I have to admit it. I got myself into trouble shorting premarket and holding into open twice-11/15 & 11/16. I thought about the possibility that it could trap us again and fade off tomorrow. Frankly at the open I am not sure about it BUT when DRYS(leader) announced about open at 10:30am and priced its offering I should size in BIG!!!!!!!!!!!!!!!! But again too scared to do it. As expected when DRYS opened all shippers made round2 tank and never looked back.

11/16_SINO, DCIX_ insanity!! down $50K at 11am!!!

I have never seen this kind of movement before. I been through Ebola mania, KBIO, AQXP period but nothing compared to what is happening right now. I can't find a correct word describing it. The whole sector is on fire!!!!! DRYS brought momo back and lit up the sector then it got halt when DCIX fueled up the sector and after DCIX pulled SINO took over the job!!!! Just another day that everything went beyond rationality and logics.

I woke up a little late today so when I sit in front of the market and I couldn't believe what I saw-DRYS's already above $90's and I went to the bathroom and came back and saw it at $100ish before the halt. SEC requested more information about the company and all the sector players cracked!!! Then I started to think finally!!! The halt must have killed the entire sector and all the other shippers. So I started shorting SINO and DCIX premarket. These two were the strongest of all. I don't regret my short. Shorting them is not the problem.

The problem was I didn't think about the stop out point. I was convinced and strongly and perhaps stubbornly believed DRYS's halt would bring down the entire sector. So I ended up adding at higher level which is essentially adding to loser. Afraid of missing out. Afraid that when DRYS opened it would be at many point downs and these players would snap fast. Again I was trading on what I think, not what I see. The second mistake was I held large position into the open and got squeezed to the moon!!!! I remember I even told myself to cover all position by the market open but I didn't stick to the plan. Here comes the 3rd mistake: they got huge volume when opened and they snapped BUT hugging around the VWAP and that should be a huge red flag!!!!!! I didn't downsize tho and kept holding large position and finally they took off because I saw "relative volume" but the loss was already snowballed. I had to take them and I am glad I took them b/c I would blowup my account if I didn't cover them. DCIX just went fucking rampage!!!!!!
2 things I did right: 1) Realized I was wrong and gave the uttermost respect to "relative volume" red flag and covered all. 2)When DCIX went nuts and SINO was holding above VWAP the whole time and already traded nearly 20million shares I emailed Ryan to change my account setting($20,000 max loss restriction) and I went long BIG SINO with $4.50ish average. I knew it's got very high chance to take off. I sold half near the top and the other half into the pull and decided to reassess.

Here is the PnL before 12pm!!!! Absolutely ridiculous and insane!!!!!!!!

I went to have lunch but couldn't take eyes off them!! Frankly I didn't know for sure which way they would go. So I kept watching and looking for the signs. Both of them started showing weakness in midday and the previous support got tested at 1pm so I decided to short them into pops and look for post 2:30pm unwind. I ended up having 2000 shares DCIX with $16.50 avg. and more than 10k shares SINO as it approached down the support level and looked like about to fall off the cliff. Glad DCIX worked out but SINO did classic "crack then grind" action and pushed all the way back. It went up another 10% afterhours. Due to abnormal volume I covered all SINO at $6.20. Was up $6k at $5.300ish but didn't take single share off. Was thinking that SINO would follow all the other shippers' track. The crack is delayed. WRONG!!!! As Nate said in the chatroom, SINO's got relative strength and it traded 40million shares today. I knew huge volume is always a red flag to short but trying to be patient, trying to give it time due to my good average. Ended up turning winner into breakeven.

Tomorrow:     RULE
 #1: It's okay to trade premarket but never hold single share into open!!! Long & Short!!
#2: stick to the plan: timing, position size, entry, exit!!! Think of all the possibilities
#3: be a step late!!!! Rather miss than early!!!!!!!!
#4: when setup diverges from the plan:price/volume, RUN, DON"T WALK!!!!!!! Get out before herd does!!!!!!!!! 

11/15_Craziest Day EVER_DRYS, DCIX, EGLE, OPTT, SHIP, TOPS, ESEA, SINO...etc

Realized the biggest loss in my trading career yesterday and couldn't sleep last night. Was thinking of all the possibilities of DRYS but today it still felt out of my expectation. Very fortunate that I didn't have locates for it or I would blowup again. Trappy action and totally unexpected move afterwards..

Was very confident on this setup and it did what I expected at 10:30am and I thought that's it it was over but this is just another example of "crack then grind" action and once again caught shorts off-guard. If you can't respect the price and volume action and honer the "stop" you will get slayed. 

TOPS and EGLE started in premarket and I told myself if it can hold up and trades near the top at 9:28am I would close my position. Glad I honer my promise and here comes the damage:

Huge but it doesn't impair my ability to trade. All the shippers follow the sector bellwether-DRYS. it has impressive staying power which creates lots of choppiness and volatility on these players. But I stay tight to my position and refuse to shakeout on minor price volatility and they finally pulled and I thought that's finally the beginning of the end. Guess what...WRONG!!!EGLE covered the majority at $10 and SHIP covered the most at $5.30. Minimized the gain but I did what I had to do. DRYS's action is totally absurd and I was worry these sympathy would do absurd shit. don't wanna headache!

towards the EOD I took 5k shares short and nailed the pullback. Great cover. It seems have staying power.

It was almost 2pm and I have to admit I am mentally and physically exhausted and I knew that I was not in the right mode to trade any further without taking break. But today's action is just too crazy to pass. Then I came across OPTT. I started shorting at $3.70ish when the "relative volume" is equivalent. It took 3 minutes to squeeze above $4 and I added some at $4.30ish but it kept going and even got halt. After the halt it went above $5 and my unrealized loss got nasty. I told myself to not add unless top is clearly formed. It pulled from $5.60 down to $4.60 and reclaimed $5 mark and I added one more short-5k shares slightly above the previous top. Ended up holding 24800 shares with $4.528 average. At the peak I was down $30k!!!!!!!!!!!!!!!!!!!!!!!!!! I was literally about to pass out but for whatever reason this times I stayed pretty calm and patiently waiting for the pullback to bail out. Maybe I was too tired to feel distressful or maybe I been through the worse situation yesterday... I honestly don't know. Like Craig said there were multiple things leads to big loss, it's never just one thing or another. Just very grateful that I survived from this disaster. I won't throw myself in the same situation ever again! when you are tired or not feeling well, just take the rest of day off!!!!!!
LIVE TO FIGHT ANOTHER DAY!!!!
there is always tomorrow!!!!

11/14_Blowup_DRYS

I don't know what to say. No excuse for the loss because I fully deserve it!! Lots of red flags!!! why the hell you kept holding to it!!??
1)setup exactly like DRYS last day and SKLN a couple days ago. Classic "Crack then Grind"setup!
2)relative volume tells this is not short!!!!
3)real breakout way above morning high and holding above VWAP. no selling pressure at all!!!!
4) it's got two pullbacks but both very weak, one slightly above VWAP and subsequent one nearly $3 bucks above VWAP-that's HUGE red flag, that tells me how strong this turd is!!!!!!
The funny thing is I told myself that if I see abnormal volume I would get out but the reality is when the abnormal volume is spotted it's already $2 above from a minute ago and it's extremely hard to get out unless taking the offer and the spread is huge in this case. Essentially it's thin air on top!!!! Meaning no selling pressure existed!!!!! I covered my position twice and each time I covered only half and let the other half run and that's problematic!
Just when you thought things couldn't possibly get any worse but the fact is YES!! it could always get a lot worse than you think! Jay took huge hit on it, AT09 lost $40K on it too, Bullzone blewup, etc.. At the end of day I am one of many shorts got screwed but fortunately I survived. There is nothing better than surviving!!
LIVE TO FIGHT ANOTHER DAY!!!!!
THERE IS ALWAYS TOMORROW!!!!