I thought the news is meaningless and I compared this setup with ISNS a couple months ago. The main reason PTCT went nuts and trading very thick premarket was due to DRYS's action yesterday. So I am pretty confident and ended up sizing in 10k shares with $11.09 average. However I made the stupidest mistake which is unfortunately the same mistake I made on SAEX before. I thought about $10 could hold as support for a while but I refused to take single share off!! I thought about it could bounce backup but eventually would crack $10. I was trading what I think instead of what chart is telling me. $10.30 absorbing massively but I ignored it. I was up big twice but didn't take if!!! Turned big $7k trade into lousy $2k. You would think the choppiness is over it would just slowly fade back down but guess what....Boom!!
Big picture shorts were absolutely frustrated and toasted today!!!! This is classic "crack then grind" action and $10 reclaim is ultra-bullish signal!!!! "relative volume" is there and downtrend has broken. This is supposed to be my bread-and-butter long setup but man just very difficult until it happened. very trappy!!!!- same as DRWI's action.
Then I took my frustration to another level by shorting DRYS when "relative volume" telling me a different story. I didn't focus on it because i was having large position with PTCT until the unrealized losss got ballooned before the halt. I was down $4k on it very quick and I knew I got myself into the trouble and frankly didn't know how much further it could go before the peak. So I told myself to get out after the halt which turned out to be the best life-saving trade of the day. It squeezed another $2 after my cover and I had 3k shares on it. Then I nailed the top and lower high and turned loss into gain. You would think the drama is over but nope...
It looked like the top is formed after it pulled from $18 down to $15 so I thought it likely fade back down all day so I started shorting it and my starter entry is $15.82. That was FOMO trade. Not saying it's FOMO trade after the fact but the volume wasn't even there!!!! Why the hell I shorted without exercising patience and waiting for the volume driven bounce?!!!!!! Then I added all the way up to $17 and ended up holding 9000 shares with $16.26 average!! At the top I was down $8k and that's the price I paid when I started in toooo early!!!
this is half million float stock with SSR on and top percentage gainer of the day!!!!! Shorting into weakness and calmness without volume=suicide!!!!!!!!!!!!!!!!! Fortunately I was right but man this is a terrible trade!!!!!!!
SINO-couldn't get filled enough. It moved toooooo fast!!!! No way to get filled unless having order sitting there already.
EGLE-why the hell I took it off?!!!! After having roller-coaster run on PTCT and DRYS I don't want any headache and frustration so just took it off and called it day.
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