Good alert from Tims chat room. Saw the company was pure speculation and that the huge intraday gain had no volume behind it. Expected it to drop and it did.
The short trade was my best trade to date, it broke support at 2.73 from spiking huge a few days before to collapsing the next day. Tried to spike again but failed and then when I entered. When it broke support at 1.84 I thought it would go to the low 1.00s quickly but it didn't and spiked towards the end of the day on Friday. Only reason i went long was i put too many shares in my buy back order, silly but got straight out for just the loss of commission
This was a disaster as I completely underestimated it... I was up to 5000 shares short when it squeezed HUGE and I had a very large unrealized loss. I had to hold this a long time and eventually took a much smaller loss. I actually made money shorting it including my other trades, but still took a big risk here. This is exactly why I rarely trade with size, but I was reckless on this trade. Luckily I lived to trade another day.
enty: 8.21 - 9:29am - bought first thing with order in before bell. Looking to fade. Will scale in as needed if shorts avail. scaled in another 800 when felt like a little double top and stuff just past 3. exit: 8.25 - 2:08pm - covered 800 shares since this feels like support Leaving 400 to scale into new avg cover next day. exit: 8.26 - 12.39pm - covered on super slow moving stock. Took small profits, moving on.
Never attempt to copy or mirror the trades discussed on this website or in alerts. Attempting to do so may result in substantial financial losses. Alerts are not provided in real-time. For that reason, it is highly unlikely you will be able to buy the stocks at the same entry price, or sell the stocks at the same exit price, to achieve the same or similar profits obtained.
