Didn't really pay attention to signs of danger because I had 4 positions at the same time. Weak pull above VWAP is a big red flag for short!!! But it was too late for me to recognize it and got squeezed. Then $4.50 stuffing multiple times where I got short. Nailed the move and reput shares back on.
Then shit hits the fan just like SINO did yesterday. It broke down then squeezed back up. Glad I paid close attention to "relative volume" and escape from trauma. Then $5 stuffing where I got short and added multiple times and ended up having 25000 shares with $4.80 avg. Nailed the slamdown and went out for lunch thinking the price action will be easy afterwards....but nope, it doesn't want to give me easy time. due to paid pump I still remained short biased but the question is at which lvl I should short without missing the play. I shorted at $4.30 then added at $4.40 thinking $4.40 peak out but it pulled and held higher low then gave another monstrous squeeze all the way to $4.80 before sold off. Definitely not easy to trade. I ruined my average by adding and turned unrealized gain into loss but then reshorted and made some back.
not much headache trad.e
Day2 on SINO. So I sized in with 2 plans: either it held up and made move at the open or stuffed then faded all day. the price action looked weak so I remained shorted and added risking $5.50 over/under.
Why the hell I covered?! I had 4 positions at the same time so trying to reduce no. of stocks to watch.
the outcome is breakeven but lots of mistakes on this one. 1) when it pulled but held above previous top I should have covered all but I didn't. 2) I should have taken larger position and had the courage to hold due to weak retail driven move.
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