finally today is the day!!! turd travelled way further than anyone expected. Like Nate said not retail shorts got squeezed, likely institutional shorts behind it, when you see big blocks hitting the tape. very similar to DRYS's chart, big push initially but failed which lead crowd think sellers exist but as soon as higher lows formed it started making new high and bigger candles come. Trend holds perfectly. I was looking for the locates the entire time but couldn't find it therefore was very confused who the hell got squeezed, definitely not retail chasers. Now I am thankful that I could locate single share because I was ready to short at 15,16, 17 and very likely add to the moon. I found hard to long it as well because effect/halt could happen anytime.
even after everything I been thru, this is not the first time I saw this happening but still made emotional decision. I am a low float small cap trader and almost 90% of time I see "kiss of death" candle I would size in anticipating continue selloff. However mania period that's the opposite!!! you see absolute weakness that's your best time to long it. shit get nuts in this market. Hard for me to adapt so I paid the price! this is zombie stock. usually 95% of time a stock trades near LOD, under vwap, fading volume will die off but it came back up!!!! caught everyone off guard including myself, that EOD squeeze is totally unexpected!!!!!!! Glad I had no position because offshore hunter made bullish tweet on it. After all shorts got faked out it started slamming bids just like ZSAN, PIXY. Monday will short using $11.50 as a guide possibly for swing.
this is the pain in the ass of the day. didn't believe it would run up towards $6. It has been trading weak past two days and lots of overhead sellers. But here is thing about low float, no matter how resistant a stock seems, if its chosen by the market, it can pierce thru the wall and run. I saw stuffy action in low $5s so started shorting it and higher it goes more stuffy I saw. It continue making new high in the morning but in my eyes each new high was stuff move. I ended up having too much size initally and down a few grand near the top $6. In my eyes it went out of control, retail driven move so once it pulled it pulled hard!!! I kept telling myself it which lead me to take pretty decent position and only cover partial into the dips and decided to swing the rest and possibly add lil higher for EOD crack. My conviction tells me it will close near LOD. Yes I was right BUT before that I got fucking squeeze hardcore. Unexpected move all the way higher than morning high, I ended up having 23k shares with $5.53 average. near $6.30 I was down $17k!!!!!! and my account size is only $62K!!!! meaning that if I stopped out I would knock my account down to under $50k!!!! That aggravating! One thing I did right was I stayed calm and knowing once shorts and chasers stop hitting the offers and bids pull it would fall off the cliff and that's exactly what it did. The only problem was timing!!! I was 2hr earlier!!!! Looking for homerun!!! kept thinking how much money I would make instead of calculated risk. The right thing to do would be expect unexpected!!! say your full position is 23k, keep at least 5k to the lvl that you think impossible to get to. Wait for that lvl reach before put it up!!!! I saw when it traded above $6.20 buying stopped then boom all got bagged!!! Had I stopped out then reput shares up I would perform much better. starting monday one thing I would do everyday in the midday is laying the visionary chart on the paper, make several scenarios including price action and volume layed down. prepare for each scenario with appropriate shares to trade and stop out point and action must fit you or pass! this PIXY case is the biggest profit range for shorts. NO one ever think it would go that high!!!! Again keep in mind we are in zombie period!!!!!!! keep in mind!
wow pissed of myself because no selling until EOD. Again they all trade same way!!! the key is timing!!!!!! When you have conviction on a trade and price and volume perfectly fits your criteria you just need to stay in it!!!!!!! One divergence is volume obviously, I hope morning push followed by selloff which happens during normal period but this period you must wait for breakdown. Think out of the box when you were long these dips and anticipate EOD come like previous two days but it crack support you would exit and there are hundreds of others trade the same way!!!! If you think like crowd and prepare for their reaction to the price action you would kill it!
1)starting monday, previous 2 days trade, market, behaviors review!!!!-key!!
2)midday trades scenario visioning and prepare size and plan for each scenario. (must draw the chart down on the paper!!!!!!! crucia!!!!!
3)remember things could always get worse! anything could happen!! expect unexpected!
