So after its 10 day runup I went short at .25 50 on 21/6 in the last half hour on a bounce after it was sloping and just about to finish red on the day. What looked like a pure play and a low risk way to bank a ton tuned out to be a strange $5700 loss. I set a hard stop at .29 to protect myself in the strange event it did spike another day but that .29 a/h turned out to be the highest it got before free falling to .22 and I would've banked.
Debate: Is a hard stop a way to protect yourself a/h in case it does actually spike at the open and you get squeezed or is it contradicting your theory on the fact it will inevitably crash? Its all about odds and reliability in the markets and this play is as old as the markets BUT junk with awful charts have been hot lately and you can't rule anything out.