No volume in the morning rejected at 4. Should have got more size.
This stock was getting overextended and had just had a hard pullback below the key $4 level. I shorted a starter into the next bounce. The stock wouldn't break down for the rest of that day but it closed under $4 so I held overnight. Next morning $4 was still major resistance. I tried adding but I missed my execution as the stock panicked red on the day. I soon had to leave for school so I covered on the next low of day. Very happy about my trade plan but dissapointed I never got to add.
misjudged my dip buy timing - should have stayed longer as this stock held my support
Entry comments: I dip bought this recent runner, classic http://tim.ly/sykesmorning pattern, but sadly low volume so small position for me, goal is to make 5-10% on the bounce
Exit comments: Got a little bounce here, but just ate through a 12k buyer so bounce likely done for now, small gains here, no current positions, waiting for something better
Got caught again on this ticker. Making a rule to only short liquid otcs. Illiquid ones just don't follow the framework as good.
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