Before I start I just noticed the ticker I lost 100$ was $AVEO also that day when I lost twice on $AVEO really hurt my confidence by a lot, you can read about it here it was a lesson I had to learn, thankfully since that blog post I made myself 3 rules today I followed them and won nearly 9% on $AVEO

 

Just 120 shares - I can't go any higher because of rule #2 (described in that blog post)

41 bucks but really after commissions it is 31 - I will update this trade once my iBoss is updated.

 

percentage wise I lost twice 2-3% on $AVEO a week ago, but today I won nearly 9%, meaning if I used the same share size (500) when I lost I would be break even on my account. But right now my focus is not on profitability but consistency.

 

Really I'm glad I followed my rules today, I am also glad I forgot that the 100$ lose was on $AVEO lol I didn't "marry the stock" as Tim says

 

Anyway, the recap

 

You can see this is a break out play, it broke out on 21st Aug and the next day it gapped to 3.40 I think I bought it the day after in anticipation of it keeping going higher. 

Anyway today it had positive news

 

When it reached 4.20 and failed to spike instantly I didn't understand why is it having hard time

-It's a breakout play on daily and everyone recognize it

-Best news possible for a company (read here)

-Up pre market so it hit a lot of scanners

 

Literally every sign says "BUY THIS NOW" yet the morning spike failed, after two minutes of market open I realized the only possible way of this happening is they are dumping shares and this whole bullish theater was just it - a theater, a show, best time to dump shares

I opened their their most recent 10-Q (Aug 9 2017)

and saw they have an on going ATM (at the market), I understood their game

their plan was hype and pipe lol

they wanted to hype the stock as much as possible to dump shares at market open, today $AVEO made millions for sure.

So the moment I realized this is what was going on I knew this was the best short play I'll come across in a while but I couldn't take it or size big

I couldn't take it because I had confidence issues with my trading after losing so much :s

and I couldn't size big because of my rules

 

so I just let it fall and fall.. when it bounced I couldn't even short the bounce until late of the bounce

I didn't enter at 4.05 as I should have early, but I entered kinda late at 3.96 which is actually pretty good, chances like these are rare after a bounce.

When I entered I just had to take this trade, it was so safe my risk was literally 20$ after commissions - 4.05 just 9 cents above my entry

It's just confidence problems which is why I am working on consistency and not profitability.

 

 

 

On a different subject I made a watch list on Friday $FLWS $HMNY I didn't trade any of these because premarket volume was a joke, and my focus was on $AVEO

 

I also cannot make more than 1 trade a day - it's against my rules

 

I'll keep $HMNY in mind, it's a breakout play after all but today it was down .24 cents.. nothing but fade all day - I should see if they have an on going ATM.