Just small scalps today with small size added up to around $1000, then I forced a bad "add, add, add" trade on MOBL and almost gave it all back, but ended up making a few hundred. I need to make sure to be more careful with my size and my adding and making sure to SIZE BACK DOWN into dips especially with SSR and on a stock that's down so much on the day (20%+ gap down on bad news), it can just keep bouncing/spiking, this could have easily gone 7.50+ and I would have given back my whole day and more. Eventually I could have made a lot more on it, but because I didn't cover enough into dips around 7.25-7.30 from 7.32 average (a bad average) and having it spike 10+ cents on me each time, I covered the last 3100 shares for a very small profit because I was impatient and tired of watching every tick for the last 2 hours with big size and not covering enough when it wasn't breaking down (I could have covered all/most and replaced again higher with a better average and then been more patient), also my average was never very good to begin with.
FOR NEW READERS ONLY: If I am scaling in and out of a position, that is considered one trade until I am completely out of the position and then it becomes a new trade, that's why some trades have a lot of shares, even if I never had that much at once, if I cover half and then re-add my cover, it's still considered one trade until I am completely out. The entry is the average of the entries and the exit is the average of all the exits. The entries/exits are rounded to 2 decimal places, but the exact number is calculated for the PnL, so that's why the dollar amount may look different than what you see. (it may be 7.165 instead of 7.17, etc). Also, you can click on the charts if you want to make them bigger to be able to better see the entries/exits.
MOBL
Huge gap down from 9.50 to 6 on CFO resignation and earnings results. Squeezed up at the open (starting from 6 at 9:28) and I missed the short from 6.70's to 6.25, I scaled in long 2k 6.33 average into the washout and sold immediately for a tiny scalp at 6.45 (was under VWAP and down a lot on the day, I thought it might keep fading), it spiked up to 6.95 (missing 40-50 cents). Then shorted too early into that, 2k 6.76 average and covered for a tiny profit into the washout. It slowly uptrended for a few hours then parabolic'd to 7.15, I tried to short at 7.14 and only got 250 shares filled, it dipped to 7.08 and was basing and looking like it would still go higher and I almost covered for a tiny profit but I didn't because the size was just so small. I added more on the way up with not the best entries, I had 3k shares 7.26 average and it dipped to 7.21, I wanted to size back down into a dip and had an order waiting at 7.21 earlier but then I got greedy and lowered it and missed covering any into that dip and it popped back up to 7.30+ and then all the way up to 7.50, I added more on the way up to have 5750 shares 7.32 average, it hung around 7.36-7.50 for a while and I missed covering any into dips and it kept being "propped up" with big bidders. Eventually, it washed out to 7.28 and I covered around 1800 (was trying to cover more but was too greedy and didn't take the ask sometimes and it would pop right back up), it popped back to 7.40 and I tried to readd some at 7.39 and got 600 filled, then it dipped again to 7.25 and it was so close to breaking down (7.25 was getting hit) but it held again and bounced back to 7.40 in 2 candles, all I got covered was 700 shares at 7.26 (those "SSR pop" candles are so frustrating especially when you have 3000-4000 shares = 400+ difference in one candle). It dipped a bit again and I covered 7.30ish for a very tiny profit just because I was tired of it popping 5-10 cents every time I missed it into a dip and I was tired of watching every tick so intensely for the last 2 hours. It slowly faded to 7.10's then washed to 6.80's, I missed a lot of profits because of my poor management of this trade, not covering enough when it wasn't breaking down, and not taking the ask to size back down when I was in too big with a bad average. 
| Type | Entry | Exit | Shares | +/- $Amt | $ PnL | % Pnl |
| Long | 6.32 | 6.45 | 2000 | $0.13 | $260.00 | 2.06% |
| Short | 6.76 | 6.65 | 2000 | $0.11 | $210.00 | 1.55% |
| Short | 7.33 | 7.29 | 6350 | $0.03 | $201.00 | 0.43% |
- Lessons:
- Be careful of "SSR squeezes" on stocks that gapped down so much, sometimes they just go straight up from the open and then uptrend most of the day (possibly correcting an over-reaction to the news)
- Be careful of "add, add, adding too much", always try to make "smart add's" and MAKE SURE TO SIZE BACK DOWN into dips, take a small profit/small loss, don't get too greedy when you know your average isn't very good and you have too much size
- Make sure to SIZE WAY DOWN/COVER ALL for a small profit when your entry wasn't very good and you were originally down on too much size (I should have covered more 7.25-7.30 after holding it through a big unrealized loss 7.40-7.50, can always COVER ALL, then reshort again higher)
- Do not be afraid to take the ask to cover when there is SSR on and its not breaking down (I missed covering into dips many times by not taking the ask and it popped back up 5-10 cents in one candle)
- Don't let partial fills lead to you "trying to make it work" with more add's in places you wouldn't normally enter the trade (I could have taken my 250 shares off for breakeven/small profit, then waited for some "topping action" or whole and half dollar marks to short this, instead of just add, add, adding in places I wouldn't normally short, trying to make those 250 shares work)
GBSN
Slight gap down from 4.98 to 4.80ish, it hung around 4.77-4.95 for 10 minutes, then spiked R/G in one candle, then went to 5.75 in another 10 minutes. I still don't have shares to short, so I can only trade it long. I missed the good long entry in the 4.80's and didn't chase it up at 5, 5.10, 5.20, 5.30, etc, chasers win sometimes, they chase and it still goes higher, I usually just watch if I missed the good entry, I can't chase longs into that much spiking, you never know where the top is going to be. I waited for a dip to VWAP (5.32) and went long with 2690 shares (690/1000 partial fill on one order), 5.36 average, it popped to 5.43 but I was trying to be more patient with it for 5.45-5.60, it dipped back to 5.32 and based at VWAP, and I sold it all for a tiny profit into the push, I wasn't too greedy because I was expecting it to have bounced better off of VWAP the first time, it could have broken below it on the second test. It dipped from 5.50's down to 5.28 but there was no panic when 5.30 broke, I almost went long at 5.30 but wasn't quick enough, it bounced right back in one candle and reclaimed VWAP and uptrended to 5.60's. Then washed out from there to 5.30 area for a bit, then washed out again to 5.10 in a few candles, and I went long into that washout, 1k 5.18, 1k 5.13, 1k 5.12, and sold immediately into the next pop for about a 10 cent scalp. It was fairly low volume the rest of the day but VWAP (5.35ish), rejected it perfectly into any bounces and it had a "late day fade" down to NLOD in the 4.60's. (would have been a nice short on pops, using VWAP as a guide, but like I said, I had no shares to short)
| Type | Entry | Exit | Shares | +/- $Amt | $ PnL | % Pnl |
| Long | 5.36 | 5.45 | 2690 | $0.08 | $219.30 | 1.52% |
| Long | 5.14 | 5.24 | 3000 | $0.10 | $290.00 | 1.88% |
- Lessons:
- Try to "get long" earlier on these momentum stocks when they are basing/making higher lows (with risk on LOD) in the first 30 minutes, looking for a R/G squeeze (I missed the good entry and then I didn't want to chase it up and missed a huge 50+ cent move)
- Be careful of R/G squeezes on these momentum stocks if trying to short, they can go much further than you think (I didn't have shares but I think I would have started shorting way too early if I did)
VLTC
First red day on this stock was yesterday after a "supernova" run-up, it had a nice gap down today from 15.14 to 14's and then an opening 2 minutes washout to 12.76, I tried to go long very small size 300 shares at 12.72 and I just missed it. It bounced from there then came back down and held a HIGHER LOW and spiked up to 14.40's, then "peaked out" from there and made lower highs and eventually faded all the way to 11.70 (12.95 to 11.70 in 4 minutes). That was a big washout, so I scalped it long, very small size, 300 shares at 11.72 and sold at 12.04, I was willing to scale into the washout that is why the size was so small, but I ended up catching the bottom. It had some temporary bounces throughout the day but still closed at new lows in the 10.90's, these last two days (after the big morning spiking yesterday) are the "fade, fade, fade" days where you want to be patient with a winner on a short if you have shares.
| Type | Entry | Exit | Shares | +/- $Amt | $ PnL | % Pnl |
| Long | 11.72 | 12.04 | 300 | $0.32 | $96.00 | 2.73% |
No comments:
Post a Comment