radkan
radkan Jun 20, 17 9:49 AM

Thank you everyone! Yes it was a terrible rookie mistake. I got out at 8.05. $750 loss, hurts but better than losing more.

sergpnd
sergpnd Jun 20, 17 10:40 PM

It gaped down today on public offering news. It will probably go down tomorrow. But it's part of the trading you never know when it happens

wannabestocktrader
wannabestocktrader Jun 20, 17 11:33 PM

Yeap, the daily chart going back to the start of June shows no real signs of a good short setup. Even at the highs today, it was heading towards a 52-week breakout so you'd be reckless to try and short there. The S-3 was made effetive 06-09, but it was replacing the previously expired S-3 from 2014, so there was no practical way of guessing an offering so soon. While that might have prevented me from going long, I don't think there were any signals to short before the offering was announced.

Join now or log in to leave a comment