This bit me in the ASS... I know better not to be trading these low liquidity stocks and the pattern was looking to break out further... I had traded it before and made it out with a profit... This time it wiped out that profit, then some... Lesson Learned... Stay the Fuck away from these illiquid fuckers, the spread was insane.
I reshorted this stock as it went red again after it couldn't hold green. I unfortunately shorted weakness and had to ride through the bounce. The bounce took much longer than expected and soon I thought I was going to get squeezed like last time so I exited for a loss. I got out while my thesis was still intact and ended up being right as the stock made a new day low into power hour. Good lesson to hold if your thesis is still accurate.
This stock has been getting a ahead of itself and had a momentum shift so I took a short position. The stock went red for the first time in a few days but then quickly recoved so I got out for a scratch profit. I saved myself from further losses as the stock went to break out to new highs.
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