NVAX: I was looking for a push ideally to short again but it just dropped out of the gate. I didn't chase and waited for pops to vwap. I thought it could go higher so I waited but when it popped above vwap and then came back down I thought that was it. So I shorted then and then added on the drop to full size. It broke yesterday's low and I was wondering if that would be it. I let it test around in case it wanted to go lower but it seemed to have held a higher low so I got out half. Later on I shorted but that ended up being a trap so I covered the rest for flat. Thought I would make more on this but no big deal. Nothing to say on this one - it was decent execution by waiting for the pop and drop under vwap and then adding in.
OPTT: This stock taught me a lot of lessons today. First I shorted it into vwap after it came off. It went slightly above vwap but I held firm and knew I had to give it room. No more what ifs. I was looking for more on the trade so I put a breakeven stop and stopped out when it came back. At that point maybe it had more juice left. It had some decent volume/stuff later on on the next attempt but I didn't short it there. It broke the uptrend and I thought about shorting it there but I thought it would need to go higher. It did and what I saw next was a huge offer at 8.30 that was responsible for all the volume there. It got taken out, someone sold their shares and I figured that was it. It went slightly higher but I said this is it. So I shorted up there and when it came under vwap I added because I thought that was it. I then saw a big bid that ended up being fake so I was even more confident at that point so I added in more with risk to vwap. So far so good and I was sized in pretty nicely for what I thought would be a nice flush. The stock had one more bounce in it though and I sort of panic covered/what if'd it although it had broken vwap at that point so I guess I should have covered. I covered the 100 I added down below for a decent loss at what happened to be the top of the move - funny how that works. I still kept the initial 50 with risk to new highs as per my plan. So that was good at least. I never added back in but after it broke 8 it was absorbing a lot in the 70 area but I said fuck it and stood firm with my bid at 55. It ended up going there and a bit lower but overall I ended up profitable by a bit in the name. When I was adding I thought if it would retest and I could get a better price but I was pretty confident and wanted to get in on any pop. It's hard to say. Maybe I should have just gave it the full stop since I was pretty confident. The big bid disappearing but it then ramping threw me off since when that happens the stock is usually done. When it did rebound I saw another huge offer that was real and got eaten. I told myself ok this is going to get eaten and someone is getting out and it might go a little higher but it could pullback afterwards. That is exactly what happened but I panic covered unfortunately. Overall some good lessons here.
BBRY: I could say it was a stupid trade that I shouldn't have done but that's not true. My first entry worked well when I saw a good pattern for shorting. But when it made new lows and immediately came back alarm bells should have rang and I should have just covered. Instead I just said fuck it and added and then got stuck and ended up taking a small loss on it. Definitely could have been avoided. Obviously when something like that happens with the lows it's not a definite but something to watch for sure.
Things to work on:
1. Even when there are fake big bids it doesn't mean the stock has to tank right after that. It's ok since your only frame of reference is ATEC when it flushed right after the big bid.
2. When having conviction and sized in, you might just have to take the loss if you are wrong.
3. No what ifs.
4. Keep the partial size when that stop hasn't been taken out but the adds have been.
5. When a stock makes a new low and then comes right back with volume just take it off unless very confident.
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