Looking back it's easy but during premarket it kept going after I took position it's very scary and frustrated and b/c my position was big my pnl swung wildly. But I got conviction on this trade therefore I risked big on it. I saw $7.40 and $7.60 resistance area so my thesis was as long as it settled below $7.40 I would be comfortable holding position. It's okay to pop above it and I was ready to short each pop above it. Definitely not easy b/c it went further than I expected $7.40, $7.60, $7.80 then I was so afraid what if $8 break and hold then I would cover full position by taking $10k hit! Very glad it peaked out at $7.80 and unwinded from there. Had 14k shares short with average $7.15ish. Homerun trade!
Luckily midday offer!!! God is on my side today!!! Feeling blessed and grateful!!!
Was thinking to start in short $9.20 premarket but saw relative volume sustains so fought my urge to short!!!! Glad I was disciplined and patient on it!! This piece of shit did unreal moves past two days and it caught lots of people off guard for sure! Unreal weakness after morning para!!!
Same mistake as DRYS, totally totally avoidable!!!!!! Glad I realized it and covered into dip without hesitation!!! On the backside it's much easier .
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