Entered to late in the spike. Also need to exit sooner by stopping the stop loss and using a trailing stop loss.
Multiday runner with pull back 50/50 candle. m entered on premarket HOD break. Held till price action printed below 9EMA.
Shorted a bounce after PGEN for the first time on the run went r/g and back to g/r. Thought it was showing sign of FRD so shorted a bounce risking HOD. Shorted 25 shares at 4.18 and got a little HOD BO but was weak so didn’t cover. Dropped below VWAP and double top below VWAP so figured good adjusted risk from HOD. Got stopped out for breakeven.
Entry comments: On the Midnight Madness watchlist from Matt Monaco, looking for a follow through day over $3.80 / $3.90. Plan is to keep adding as the market agrees with me. Initial stop failing r/g at $3.64 but will move the stop up as I add. As of the end of the day, I have 4 shares with an average of $4.02 and a new stop of $3.89.
Exit comments: Selling this stock into double top from PM and market open. Would love to keep the position and watch it longer, adding to it as the market agrees with me. But the rest of the week I'll be away from the market so needed to close the position.
Shorted after morning push to prev HOD failed and was about to go g/r for the first time. Shorted 20 shares risking HOD but then pushed to prev HOD. Thankfully went smaller size so taking loss with a little slippage was fine since PGEN held right below R/G and pushed higher most of day.
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