Entry comments: Speculative play but this market exuberance is out of control. @anted to enter @ 17.41, saw it spike & just figured not gonna argue a few cents. Right at close of market, I bought 14 shares of VXX at 17.44, wanted to enter @ 17.41 but had a touch of FOMO, but this is safe hedge, as it’s bottoming possibly, plus RSI on 4hr & 1D oversold. Markets too exuberant & might cool down next week, but if not can cut loses as the grind down (risk) isn’t as bad as the reward for a pop from selloff.
Entry comments: b/o from highs of yesterday, support a little below 200 min MA, have stop loss if b/d. “loseless stop” at 3.88 set since it bounced a bit, so safe trade as of now. Going for 7%-12% profit target. At 9:34a above 200 min MA, above vwap 9:40a. Can it hold above? That is the question...
Exit comments: Started looking weak, left $7.8 on table, but hey, gotta play it safe and take some profit. Lower highs on the bounces.
Man... The lessons. Multiday runner. Though there was some possiblity of upside. Gapped up by 10% premarket. Bought on the moring spike @ 0.9282. Spiked out @ right at 1.00. Should have seen this as a key level and cashed out up $40. Instead I rode it down hoping that stop losses would be take out @ 0.90 and bounce. Take my wins next time. Screw these losses. Learning!
BAD BAD BAD trade. I thought i had picked what could be a winner as carvana was releasing earnings the close of the day I bought. For some reason I bought hoping it would gap up overnight, but it did NOT. Got taken out by a stop loss and it is still dropping currently. Glad to get out but tough lesson - Don't buy into earnings.