8/11_DRYS_BLOWUP_AT09

JUST WOW....can't think of a word to describe its action and lots of people got smoked!!! It's not good feeling, I know it because I experienced it with HTGM before dollarwise. But compared lots of people swinging DRYS short my trade is mismanagement and sizing problem. My heart goes out to Alex who is been a helpful trader and took the massive hit today on DRYS due to absolute conviction, patience and the ONLY but fatal problem is "he didn't respect the price action" I cut everything at $1.70. Theoretically I should have cut everything at low $1.50s but I gave it a chance, some wiggle room but didn't workout. Yes it's the pain in the ass but days later I looked back it's the best decision I've ever made!!!!

the swinging process hasn't been easy and as a matter of fact it's very frustrating. When it break above $1.50 I realized I was in trouble but continued to stay in because I was thinking maybe Kalani tried to prop it above prior resistance to create liquidity before ultimate dump. But instead it kept holding and grinding and even make new high. I couldn't take it anymore so I cut at $1.70 and the same day it peaked out at $1.85. Next day shit hits the fan and it started going nuts and holding well above VWAP the whole day and made new high at $2.20ish. Not the end of world to shorts but pain got worse for sure. I am sure big time swing shorts put some add at low $2 anticipating it couldn't hold. Then today I woke up late and when I got to the PC it going nuts!!! $3 squeeze in a blink of eye!!!!!! and we are talking about average shorts with average $1.50-$1.80!!!! Shorts are in shit hole and I saw it peaked at $6 and straight down. Straight up then straight down and it left me confused and don't know what to do. They had offering at $2.75 and Kalani no longer allow to sell shares and lots of shorts are underwater so my thesis is washout long and will re-evaluate continually. But heck it break above $4 and couldn't continue to go upward. I couldn't hit sell button and sitting and waiting. the lesson is "be robotic"!!!!! You shouldn't sit and wait!!!! When stock doesn't do what you want, get the fuck out!!!! why do that? because others who come across the same information as you will do!!! You gotta hit the freaking market order be a step earlier than them before the price goes out of your favor points!!! Then half hr into the openning I saw basing so I relong it but didn't make to the vwap. Gotta admit it's hard for me to long stock. Then great trade comes when I shorted at $3.70 when I saw heavy action and added when $3.70 breakout fakeout and caught $3 into the wash. I covered without thinking knowing this thing likely fuck around everyone on the board.

Feeling sorry to Alex but it is what it is. The take away is: respect the price action!!!!! Even if you have extreme and absolute conviction on the trade!!!! Yes Kalani has 30m shares to unload BUT how come the price do NOT confirm!!!!! It doesn't look he is selling when price uptrend!!!!!!! Respect that!!!!!!!!! Price overrides everything as Elkwoods said!!!!!!