this is the best trade I took. drew a line on premarket base and covered there before the ramp. No sticking around.
ate $5k loss on it. The loss could be smaller. low float, holding trend and dips and above vwap, sympathy to RTNB. why the fuck you fight??!!! why take position anticipate crack??? it doesn't have to do it. this is 50/50 or maybe 90% going up type of play due to shitty fundamental and therefore crowded short.
another day of surprise. Didn't expect it would pierce through $2, hold then boom continue its upward motion. I started sizing in in low $2 anticipated rejection but the heck each red candle held and made high lows. It hanging around at $1.90s and I thought it would breakout stuff $2 then followed by big red exhaustion candle. Instead it was going up like manic and I saw my unrealized loss ballooned!!! That wasn't the main problem. The main problem was I sized out pretty much all on the "what I thought backside" and then sized back in late day due to weakness.
I must lost my mind. the action below $2 is not that heavy. Yes it looks like lots of sellers on lvl2 BUT the bids didn't get take out dramatically and that's big red flag for short!!!!! No real selling spotted!!!! Use the freaking market order to get the fuck out!!!!! But instead I continued to stick around and see what it does. trading these momo names the best course of action is avoid! the second best action is when stock doesn't immediately do what you want get the fuck out!!!! no sticking around! Ate $10k loss today. The loss could be much smaller had I avoided post 12pm short!!!!!!!
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