12/15_ESEA

Traded a lot of others but ESEA is the one I spent most time on and used size

It's got news that it will acquire a company but knowing it's a turd with lots of debt and ATM I immediately became short biased toward it. My plan was shorting in the morning and if it held I would just cut it but ideally it faded through the day. My starter size 5k got filled at $2 anticipating it's gonna peak out at $2 but nope so I covered it. Then I reshorted it several times due to HOD stuffing action. I risked $2.60 lvl over/under. due to my early entry I didn't have a good average-20k shares with $2.40ish average. So when it slammed I immediately covered 1/4 without thinking. Then it did frustrated "crack then grind" action and reclaimed above VWAP.
2 things I noticed that contributed my decision to cover full position:
1)$2.16, $2.18 absorbed tons of volume
2)$2.30 was holding pretty firm for a while then it cracked then it reclaimed which is very bullish sign. If there was enough sellers in this case $2.30 shouldn't even be touched!!!
So I went ahead and cover all then BOOM it started taking off!! I am proud of my read and decision!
then I flipped long and at the top I was up $2k ish but didn't take single share off. I held 8k shares with $2.58 average. then It snapped with red candle on volume got me out. When the sign of weakness like this occur I am the first one to get out! I don't care what it does afterwards. My plan is post 2:30pm profit taking so I decided to grab lunch and come after it later.

So I saw the volume at 1:30pm and frankly I didn't want to short in this timeframe but FOMO got me filled 5k shares and I was ready to add all the way to $3. Didn't give me the chance to do so and it snapped before 2PM and here comes the greedy part of me. I should have covered all without thinking twice for 2 reasons:
1) this is premature snap(before 2:30pm) meaning that if the trend holds and volume is big it can grind back up
2) all the other shipper names got momo-DRYS, SINO, DCIX so it's highly possible they can fuel this up!!
When it snapped I was holding nearly 13k shares and covered 8k near $2.43. I let 5k shares run and still give it hope even though I know it is highly possible it can crawl back up. I finally stopped out at my average $2.6ish.
Choppy stock and directionless all day. Lots of confusion and frustration but overall I managed trades alright.