TROV NASDAQ(Premarket Breakout)

MKT Cap - 51.33M

Shares - 5M 

Float - 6.1M

Really clean chart premarket, so I saw potential dip and rip pattern, and I was right. Just played it terribly though. On the long term chart, there was some resistance around 2ish, but only 7 million. These crowded short squeeze plays are so tricky. I really didn't believe these gurus when they say the emotional part is the hardest part of trading, but as I lose more and more, I realize that it's the truth. You gotta trade like a cyborg. 

Ok, so I'm gonna recap my terrible play. This is a biotech stock, so usually doesn't act like the typically ticker. For biotechs, it's always best to focus on CLEAN chart patterns, and that's what I saw this morning. Stock spike around 50% on cancer news and consolidates nicely premarket, dips a little at market open and rips. I entered at 1.63 before the rip, but got scared, failed to stick with my plan and got out early before the rip. In the future, I want to wait til it hits my risk, which was that support around 1.48 level. Got out a little early at 1.54. 

Stats

Premarket Spike  60%

Dip at open -8.1%

1st spike from dip 23%

2nd spike after pullback 11%

3rd spike after pullback 6%

So many people shorting this and just wouldn't break down in afternoon and ended squeezing to 2.40. On watch tomorrow as well as the usual suspects.