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R/S play. Saw the volume spike and took a very small swing position. Solid trade and risk management, but probably done trying to play reverse splits. Not too much price action on the day of the split and doesn't seem too worth it in terms of risk/reward. I'll take the profit tho!
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.
Bought this first green day of a very low priced stock (hot these days), on some news (som hype about facebook buying a patent). It held nicely above VWAP intraday, low float. Was in @0.015, risked @0.014, sold 10k @0.0178 and 10k @0.195. Nice profits, wiped out my terrible recent loss.
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