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Very vrustrating trade. I got a great entry short into the morning panic and was immediately committed to holding overnight as this is the first red day. I added at $2 and I completely underestimated the bounce and added again at 2.14. I underestimatd it again as it was testing the r/g level which was my risk. The stock ended up closing around break even. The next day the stock was so illiquid so I covered for a small gain on a dud of a play. Late day CANN feel apart but I wouldn't have held.
I shorted this overextended stock after many green days and up from $10. I was up on earnings up I was looking for a small pull back after so many green days. I entered when the stock failed to go back green on the day but after a few mins it never broke the low of the day and has now been going back over and under green so I got out. Just wanted to give this play a shot, no dice this time. This is also a $19 stock, recently IPO'd, and choppy/irritating so not my bread n butter short.
I got ahead of myself. I tried rebuying the hod break too quickly without making a full trading plan. I ended up without a set risk which caused me to go in too big and to emotionally exit. I perfectly bought strength and sold weakness while the stock then did breakout after I was out. Great wakeup call to stay disciplined. I won't chase this any higher. Getting prepared to catch this stock on the downside.
The whole weed sector is heating up and they are following the exact pattern that BUDZ did a week ago so I knew exactly how this would play out. I bought this stock on a dip, expecting a late day breakout. We got the breakout so I held overnight and took off my shares into the morning spike. I'm still planning on potentially rebuying this but it is starting to get overextended for a definite potential short next week.
This stock had a nice morning spike to create its multi month breakout. I got long after it proved to hold $3 and was making higher highs. This stock was holding trend and broke high of day but got stuffed. The trend was still holding so I stayed long. The stock then made a lower low so I got out for a scratch. It is trading sideways now so not a strong breakout. The overall markets where also fading so that could've had an effect on this breakout.
I really do not like shorting stocks this low especially sense my account is too small to short with a large amount of margin but I saw the pattern forming an I wanted to play it. There was perfect sideways price action that I shorted into and I waited for the crack. I held overnight on the first red day but the next morning the stock wasn't going down much longer as the sellers were all dried up so I got out. Nice % gain but the margin requirements from the 2.50 rule kept the P&L small.
Caught this chart on my screener last night and got very excited for this play. I shorted premarket as it was gapping down because there was a huge seller that most likely wasn’t going to break. We got the panic I wanted but then the stock started acting differently. There were a lot of random big buyers that created some awkward price action that I soon was not comfertable with. This is an energy stock so that could be why. But I covered for safe profits.
This over extended stock was gapping down and planned on entering short into spiking towards the r/g level. We got a panic at the open but I didn’t chase. I waited for the stock to bounce and then I got short. The stock down trended from then on and I took a decent gain. Broke one of my rules by emotionally covering but still a good trade non the less.
This stock seemed to run in simpathy with BUDZ so once I was short BUDZ I saw the mometum shift on CNAB as well and took a short position. This gapped up with BUDZ and had its last gasp too before panicking. I didn’t take any partial profits on this one and waited for late day to see if it'll crash more. It didnt crash any more so I covered. This stock was also not up as much as BUDZ so this is not the stock to short longer term.
I got short this stock from the IB trick and was willing to box my shares if this kept running. The stock was gapping up next morning which made me anxious but it held to my risk level before I would've boxed and then it came crashing down as the spike was the stock's last gasp. I took half off the table when the panic stopped and I held the rest for a potential late day crash. Power hour there was no crash and was holding support well sense all the selling had dried up.
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