Monday, November 28, 2016
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.
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