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I was right on my idea that the stock would panic in the morning given the first red day. I was scared shitless to see it run up in the morning and being unable to execute my order that I chickened out. Overall, I was lucky to have a 10 cent/share loss and didn't risk more than 50% of my portfolio, but I could have made 50 cent/share if I were to hold on to my shorts. Now I know that first red days do lead to morning panics the next day. DAMNIT!
The play had a lot of hype going into the market open. Was quite certain that the stock would have a morning spike. It did and the sold the minute I had a 10 cent profit. Was quite worried though given the fact that I was trading in a bad data zone in my school and I was afraid my orders wouldn't get executed and I would have a loss instead of a gain, making me stressed out. Glad I got out with a .13/share profit because the stock and getting weaker and dipped after I sold.
This stock was up 100%+ on the day when I bought it. I was anticipating it to break $4.40 and rise to $5 but it dropped to $4.20. Cut my losses quickly by selling it at a 10 cent loss. Failed to look at the overall chart to see if the stock had any failed spikes, at which it did. I was rushing the trade and I wasn't prepared. I traded a stock that doubled, took a risky play and got smacked.
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