I have to admit was kinda influenced by yesterday's weakness action so got a little aggressive on it. Lots of red flags not that I chose to ignore them but in my eyes this is 50/50 type of situation so I chose remain short and even added to my position ended up having 40k shares. When it was forming wedge I saw it kept stuffing but at the same time it made higher lows down there but when it broke the wedge upward I stopped out. The loss was already there but I did the right thing. The only mistake was using too much size in the first place. this is not even low float turd and got killer daily chart. There is no reason use size on shorting!!!
I tried reshort in case it breaks down without me and the lvl I paid lots of attention and respect is $1.50. I wanted to see convincably breakdown and continue selloff but nope, it absorbed and reclaimed!!! I covered and that was the best trade of the day!!!!!!
hard one and I believed lots of big time shorts got smoked. exercised patience and nailed EOD move but lvl2 looked strange and it didn't pan out the way I wanted exactly so covered half earlier and rest before the bell.
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