killer setup and know shorts are definitely trapped so started long it and made quick $8k before the open. That feeling was great so maybe because of that I got cocky and became careless and started breaking rules. My mental picture was HTGM's type of trade-big washout out of gate then grinded up and HOD breakout and squeeze but heck it didn't do what I wanted exactly so I started to question myself and flipped short and that's the biggest mistake I made!!! I consciously aware that today is the first day of MANIC period given SPEX and MBRX's action but I still couldn't resist to short due to weakness. Market sentiment geared towards bull as we've seen relentless buying yesterday and ideally carried over into today and that's exactly what happened. So the 1st loss resulted from shorting into VWAP rejection and covered into ramp. The 2nd loss(5figure) resulted from big brutal red candle slamdown short and thinking it's going to reject at VWAP and continued selloff through rest of day. Wrong both times!!!!! Given the fact that I know we are in mania period but I still shorted into weakness early in the morning. That's the part I feel sick of myself. Even after HTGM, DRYS, ETRM's mistake I couldn't learn my lesson!!!!! Ended up covered all position taking big hit at low $4. Then I started to think maybe it's going to do SINO type of action so I started longing dips using HOD(3.80) as a base/guide.
here comes the next mistake. when it took off like rocket I was overly bullish and thought it could bam bam bam so I refused to take profit!! Not a single share off!!! I was up $30K!!!!!!!!!!!! Man that was huge but I didn't take single share off due to greed and homerun mentality! I really thought after 3 months' quietness and trap yesterday this thing could go to da moon!!!!!But to my disappointment it cracked and all off the sudden I saw $30k profit to breakeven almost......I think the main reason that caused SPEX's crack was MBRX.
at 11:44am MBRX started falling off the cliff for unknown reason but SPEX was still holding up. I know that the same group of traders in these two stocks so MBRX's panic may bring down SPEX some if not more sub vwap. I got 2 minutes to dump nearly 35000 shares of SPEX but I was sitting still, hesitating, rationalizing and did nothing. This is the part I felt disgusted of myself. How could you be so freaking greedy and trade on your desire rather than what the market is telling you!!! You totally deserve the fucking loss!!!! Even after all the mistakes you made you still couldn't learn your lesson!!!! I ended up ditching all shares at $3.90s when it seems volume vanished and sellers stepped in and flipped short and intended for all day hold if no danger sign is spotted.
Up to this point the day has been crazy. My pnl swung up and down like freaking roller coaster ride. But it is what it is. At the end you gotta accept who you are as a trader and person. Accept your dents and live to fight another day!!!! Trade appropriately!!! Remember that!!!!! Everything else is secondary!!!
toasted and fatigue....exhausted staring at it all day long!!!! Didn't cover single share into dips and wanted EOD panic but didn't happen. Extremely frustrated!!!! Will watch it until 4:30pm and call it a day!!
so many opportunities to lock in profits-long & short but didn't!!!! overly biased on each direction!!
after hour action Round 2!!!!!! I don't know about this one anymore!!!!! Best avoid!!!!!
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