I positioned myself as a short-biased trader so whenever I see weakness or seller I would short and same applies when I took long position. so when I saw $2.80 big seller I sold my full position. I should have kept half of it just in case. Have no shares to borrow which must save lots of lives.
My thesis was yesterday it flushed out all longs and puts SSR on so today with volume it could rip. But didn't travel as far as I wanted so got out.
Fully unexpected! Thought it would slowly come down given all other momo plays losing steam. I went out to have lunch with MING and originally I set my stop at $.80 and it was hanging above it and realized shit I was in trouble. Glad I got filled some before the $1 rip but man the lesson is Never should have taken eyes off when you have a position.
same as INPX yesterday. rip rip rip and couldn't break HOD and sold off the day. SSR on which must got a lot of people scared to short. It came down big and in light volume.
Over the last three days market sentiment has shifted to bullish side doesn't mean I won't take short position tomorrow. I would try to long with dip holds and relative volume confirms and at the same time be cautious when short and pay attention to danger sign!
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