1st trade of the day and it was not easy. I started sizing in risking $2.50 and thought it would get stuffed then snap but nope didn't happen. I got squeezed nearly 30cents before the pull. My read was correct but I guess it was too crowded. We all came across same information and I am pretty confident when i was feeling frustrated very likely people like AT09, Bullzone, MR are feeling the same way. I ended up taking huge position 23k shares with average $2.687 which is 20cents away the HOD. Not ideal average so I should have covered half if not all into the $2.50 snap but I only covered 1/4. I told myself to hit-and-run earlier but couldn't do it. But I did okay with the rest of position. Told myself not gonna turn it into loser.
After quite a long period of serenity in low float land DRYS finally woke up and lots of others. Had I used volume as a guide I could have taken bigger position with better average. Again sold too early and flipped short. Then it comes with my biggest mistake of the day. I had a perfect short near $14 and it pulled to $13 and hanging there. Instead of saying "Hey, that's a weak pullback!! I must cover" I added to my position and got squeezed nearly $2 bucks over my average then I covered which turned out to be the HOD. glad I reshorted 2k shares post 3pm anticipating profit taking but got scared if it held so I covered. Unreal unwind into the close. I guess the best way to trade it is focusing on the "ENTRY". Picture perfect head-and-shoulder pattern!!!! shorting anywhere between $15 and $14 risking $15 over/under!!
SAEX great trade, should have added more at $8 push.
TOPS-FOMO trade. Should have exercised patience and waited for the volume before size in. I knew buyers buying SAEX and TOPS. They are weak and unsophisticated retails and will sell position by EOD. But again the timing is wrong.
Tomorrow is gonna be a wild day!!! Hopefully DRYS will back low float players back!!! the key is "ENTRY"!!!!
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