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New IPO. Stock broken above $25 which was HOD for the first day of trading. The b/o looked weak to me and when stock broken below that area i went short because i was expecting a bleeding before close. Stock than reclaimed back up and i didn`t cover right away. I gave it time. When it was unable to go back down below $25 and started bouncing i have covered my position. Took a small loss.
Stock had a big gap-up and i was waiting to see if it will hold support @ around $0.545 which was multi day support. When stock was unable to hold support a went below VWAP and tested i tought we are going to have a failed follow through. Many longs were also caught in that fakeout breakout. I was on the right track. Stock did have a failed follow through. I have covered to soon.
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